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This year Robert had the following income and losses from four passive activities: Activity 4...

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Accounting

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This year Robert had the following income and losses from four passive activities: Activity 4 had $12,500 of passive losses that are carried over from a prior year. Robert also had wages of $150,000. Required: a. How much income or loss does Robert have from the four activities? b. How are the suspended PALs allocated? c. If Activity 1 were sold at an $24,500 gain, what would be the total income or loss from the four activities? Complete this question by entering your answers in the tabs below. How much income or loss does Robert have from the four activities

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