Question - This year Robert had the following income and losses from four passive activities:
Activity 1$(20,000)
Activity 2 (10,000)
Activity 3 (5,000)
Activity 4 33,000
Activity 4 had $10,000 of passive losses that are carried over from a prior year. Robert also had wages of $110,000.
Question: If Activity 1 were sold at an $18,000 gain, what would be the total income or loss from the four activities?