eBook Calculator Exercise 11 28 (Algorithmic) (LO. 3) Lucy sells her partnership Interest, a passive activity, with an adjusted basis of $160,500 for $506,550. In addition, she has current and Suspended losses of $69,075 associated with the partnership and has no other passive activities. a. Calculate Lucy's total gain and her current deductible loss. Her total gain is $ 46,050 and her deductible loss is Incorrect b. What type of income can the deductible loss offset? Lucy's deductible loss is offset against any income Feedback Check My Work When a taxpayer disposes of his or her entire interest in a passive activity, the actual economic gain or loss from the investment, including any suspended losses, can finally be determined Check My Work Previous Next O 3 HD DO 10-24 PM 10/11/2020 J