Question: explain please! 2. Chuck, an individual, has three separate passive activities and an at-risk amount in excess of $40,000 for each. During the year, the

explain please! explain please! 2. Chuck, an individual, has three separate passive activities and

2. Chuck, an individual, has three separate passive activities and an at-risk amount in excess of $40,000 for each. During the year, the activities produced the following amounts of net income (loss): Activity 1 ($40,000) Activity 2 ($10,000) Activity 3 $30,000 Net Passive Loss ($20,000) Chuck's suspended losses for the current year are as follows: Activity 1 Activity 2 $40,000 $10,000 $10,000 $10,000 $16,000 $4,000 $4,000 $16,000 $0

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