Bailey and Grant are Married Filing Joint

Bailey is a 10% owner in a real estate partnership named Double-Dipping, LP (EIN 50-7654321). The limited partnership reported ordinary business income for the year, of which $35,000 was Baileys share. Bailey received a K-1 from the limited partnership reporting her allocable share of the business income. Bailey acquired the interest several years ago. Her basis in the limited partnership and at-risk amount before considering her 2020 income allocation was $42,000. Bailey is a passive owner with respect to this entity.

Grant is a 20% owner in Natural Sunshine, Inc. (NS) (EIN 24-9876543). NS is a Subchapter S corporation. The company reported an ordinary business loss for the year of, which $40,000 was Grants share. Grant received a K-1 from NS reporting his allocation of this business loss. Grant acquired the stock several years ago. His basis in the stock and at-risk amount before considering the 2020 loss allocation was $25,000. Grant is a passive owner with respect to this entity.

a. What is the at Risk, Tax Basis and Passive Income Amounts.

b, What is the total loss allowed for the tax year?

Thank you!