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Check my work Molly Grey (single) acquired a 30 percent limited partnership interest in Beau Geste LLP several years ago for $62,000. At the beginning
Check my work Molly Grey (single) acquired a 30 percent limited partnership interest in Beau Geste LLP several years ago for $62,000. At the beginning of year 1, Molly has tax basis and an at-risk amount of $26,000. In year 1, Beau Geste incurs a loss of $211,000 and does not make any distributions to the partners In year 1, Molly's AGI (excluding any income or loss from Beau Geste) is $75,600. This includes $14,300 of passive income from other passive activities In year 2, Beau Geste earns income of $38,000. In addition, Molly contributes an additional $32,250 to Beau Geste during year 2. Molly's AGI in year 2 is $81,000 (excluding any income or loss from Beau Geste). This amount includes $10,320 in income from her other passive investments a. Based on the above information, complete the following table: ces
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