Question: Dan and Sam are married and will file a joint return. Their modified adjusted gross income is $97,000. Dan has losses of $14,000 from rental

Dan and Sam are married and will file a joint return. Their modified adjusted gross income is $97,000. Dan has losses of $14,000 from rental activities in which he actively participates. Sam has a $3,000 loss from a limited partnership in which he does not materially participate. They have no passive income for the year. What is the amount of their allowable passive loss?

$3,000

$14,000

$17,000

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