michelle is an active participant in the rental condominium property she owns. during the year, the property generates a ($17,000) loss; however, michelle has sufficient tax basis and at-risk amounts to absorb the loss. if michelle has $119,000 of salary, $10,400 of long-term capital gains, $3,400 of dividends, and no additional sources of income or deductions, how much loss can michelle deduct?
