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Molly Grey (single) acquired a 30 percent limited partnership interest in Beau Geste LLP several years ago for $51.500. At the beginning of year 1,
Molly Grey (single) acquired a 30 percent limited partnership interest in Beau Geste LLP several years ago for $51.500. At the beginning of year 1, Molly has tax basis and an at-risk amount of $25,500. In year 1. Beau Geste incurs a loss of $192,000 and does not make any distributions to the partners. In year 1. Molly's AGI (excluding any income or loss from Beau Geste) is $63,200. This includes $13.100 of passive income from other passive activities. In year 2. Beau Geste eams income of $36,200. In addition, Molly contributes an additional $27.440 to Beau Geste during year 2 Molly's AGI in year 2 is $66.800 (excluding any income or loss from Beau Geste). This amount includes $9,980 in income from her other passive investments. a. Based on the above information, complete the following table: Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Reg A3 Based on the above information, complete the following table: At-Risk Passive Passive Year Activity Loss Allowed Activity Loss Allowed Disallowed 1 S 25,500 $ 13,100 $ 12,400 32,100 2.
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