Janet has carryover losses of $25,000 from a RELP. Her AGI is $200,000 in the current year. She still owns her interest in the RELP. What can Janet do to use her RELP losses against her other income in the current year?
I. Sell her entire interest in the RELP to an unrelated party.
II. Buy an MLP that generates income.
A. I only
B. II only
C. Both I and II
D. Neither I no