Passive Losses. In 2013, Julie, a single individual, reported the following items of income and deduction:
Salary $166,000
Interest income 14,000
Long-term capital gain from sales of stock 22,000
Short-term capital losses from sales of stock (17,000)
Loss from a passive rental real estate activity (20,000)
Interest expense on loan to purchase stock (21,000)
Qualified residence interest on residence (12,000)
Charitable contributions (8,000)
Property taxes on residence (5,000)
Tax preparation fees (2,500)
Unreimbursed employee business expenses (2,000)
Julie owns 100% and is an active participant in the rental real estate activity. What is Julie's taxable income in 2013