Exercise $11-31($Algorithmic$)($LO$.8)$

Noah Yobs, age $55,$ who has $$70,600$ of AGI $($solely from wages$)$ before considering rental activities, has $$63,540$ of losses from a real estate rental activity in which he actively participates. He also actively participates in another real estate rental activity from which he has $$35,300$ of income. He has other passive activity income of $$22,592.$

a$.$ What amount of rental loss can Noah use to offset active or portfolio income in the current year?

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b$.$ Compute Noah's AGI on Form $1040[$page $1$; also complete Schedule $1($Form $1040)]$ for the current year. Use the minus sign to indicate a loss.