Walter, a single taxpayer, purchased a limited partnershipinterest in a tax shelter in 1985. He also acquired a rental housein 2016, which he actively manages. During 2016, Walter’s share ofthe partnership’s losses was $30,000, and his rental housegenerated $20,000 in losses. Walter’s modified adjusted grossincome before passive losses is $125,000. a. Calculate the amountof Walter’s allowable deduction for rental house activities for2016. $____________ b. Calculate the amount of Walter’s allowablededuction for the partnership losses for 2016. $____________ c.What may be done with the unused losses, if anything?