Farell is a member of Sierra Vista LLC$.$ Although Sierra Vista is involved in a number of different business ventures, it is not currently involved in real estate either as an investor or as a developer. On January $1,$ year $1,$ Farell has a $$120,000$ tax basis in his LLC interest that includes his $$105,000$ share of Sierra Vista's general liabilities. By the end of the year, Farell's share of Sierra Vista's general liabilities have increased to $$120,000.$ Because of the time he spends in other endeavors, Farell does not materially participate in Sierra Vista. His share of the Sierra Vista losses for year $1$ is $$147,000.$ As a partner in the Riverwoods Partnership, he also has year $1,$ Schedule K$-1$ passive income of $$11,000.$ Farell is single and has no other sources of business income or loss.

Note: Leave no answer blank. Enter zero if applicable.

Assume Farell's Riverwoods K$-1$ indicates passive income of $$33,000.$

Required:

b$-1.$ Determine how much of the Sierra Vista loss he will ultimately be able to deduct on his tax return for year $1.$

b$-2.$ List the losses suspended due to tax$-$basis, at$-$risk, and passive activity loss limitations$.$