Problem $13-47($LO $13-3)$

Jackson invested $$200,000$ in a passive activity five years ago. On January $1,2021,$ his at$-$risk amount in the activity was $$47,500.$ His share of the income and losses in the activity were $$55,250$ loss in $2021,$ $$21,750$ loss in $2022,$ and $$83,750$ gain in $2023.$

Required:

How much can Jackson deduct in $2021$ and $2022?$

What is his taxable income from the activity in $2023?$ Keep in mind the at$-$risk rules as well as the passive loss rules.