Molly Grey (single) acquired a 30 percent limited partnership interest in Beau Geste LLP several years ago for $48,000. At the beginning of year 1, Molly has tax basis and an at-risk amount of $20,000. In year 1, Beau Geste incurs a loss of $180,000 and does not make any distributions to the partners.

In year 1, Mollys AGI (excluding any income or loss from Beau Geste) is $60,000. This includes $10,000 of passive income from other passive activities.

In year 2, Beau Geste earns income of $30,000. In addition, Molly contributes an additional $30,000 to Beau Geste during year 2. Mollys AGI in year 2 is $63,000 (excluding any income or loss from Beau Geste). This amount includes $8,000 in income from her other passive investments.

Based on the above information, determine the following amounts:

a. Tax basis and at-risk amount at the end of year 1

b. Net loss allowed under sections 704(d) and 465 in year 1

c. Loss not allowed in year 1 under sections 704(d) and 465 and carried forward to year 2

d. Tax basis and at-risk amount at the end of year 2

e. Net loss allowed under sections 704(d) and 465 in year 2

f. Loss not allowed in year 1 under sections 704(d) and 465 and carried forward to year 3

g. Allowed passive income (loss) in year 1

h. Suspended passive loss for year 1

i. Allowed passive income (loss) in year 2

j. Suspended passive loss for year 2

k. Total suspended passive losses at the end of year 2 (sum of year 1 & year 2)

l. Year 1 AGI after considering Beau Geste events

m. Year 2 AGI after considering Beau Geste events

Be certain to provide a comprehensive well laid out worksheet. Do not just provide answers