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Business, 09.08.2021 23:40 mprjug6

Five years ago Gerald invested $182,000 in a passive activity, his sole investment venture. On January 1, 2019, his amount at risk in the activity was $36,400. His shares of the income and losses were as follows: Year Income (Loss)
2018 ($54,600)
2019 (36,400)
2020 (56,400)

Gerald holds no suspended at-risk or passive activity losses at the beginning of 2018.

Required:
If losses were limited only by the at-risk rules, how much can Gerald deduct in 2018 and 2019?

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