Mannarino acquired a passive activity in January of 2013. His at-risk basis at the beginning of 2015 was $65,000. This is the only passive activity that Mannarino owns. Mannarino's share of income and loss from the activity is as follows:
2015 ................................. <$95,000>
2016...................................... 55,000
Complete the following tables.
AT RISK RULES ONLY
FOR 2015
Deductible under at-risk provisions ..................... ____________________
Adjusted basis at 12/31/15 ................................ ____________________
Suspended under at-risk provisions ..................... ____________________
FOR 2016
Deductible under at-risk provisions ..................... ____________________
Adjusted basis at 12/31/16 ................................ ____________________
Suspended under at-risk provisions ..................... ____________________
PASSIVE RULES ONLY
FOR 2015
Deductible under passive loss provisions ................... ____________________
Suspended under passive loss provisions .................... ____________________
FOR 2016
Deductible under passive loss provisions ..................... ____________________
Suspended under passive loss provisions ..................... ____________________