Dan and Sam are married and will file a joint return. Their modified adjusted gross income is $97,000. Dan has lossess of $14,000.00 from rental activities in which he actively participate. Sam has a $3,000 loss from a limited partnerhsip in which he does not materially participate. They have no passive income for the year. What is the amount of thier allowable passive loss?
a 0
b $3,000
c $14,000
d $17,000