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How much loss that Hugh may deduct

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Question - During 2019, Hugh had the following net income and loss with respect to nonrental nonreal estate activities:

Activity X ($50,000) net loss

Activity Y $20,000 net income

Both Activity X and Activity Y are passive activities to Hugh. Hugh purchased Activity X in 1987 and Activity Y in 1993. How much loss that Hugh may deduct in 2019?

a. ($50,000)

b. ($30,000)

c. ($3,000)

d. $0

d. None of these

Reference no: EM132479780

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