Molly Grey (single) acquired a 30 percent limited partnership interest in Beau Geste LLP several years ago for $58,500. At the beginning of year 1, Molly has tax basis and an at-risk amount of $21,500. In year 1, Beau Geste incurs a loss of $187,000 and does not make any distributions to the partners.

In year 1, Molly's AGI (excluding any income or loss from Beau Geste) is $62,800. This includes $14,500 of passive income from other passive activities.

In year 2, Beau Geste earns income of $34,000. In addition, Molly contributes an additional $30,500 to Beau Geste during year 2. Molly's AGI in year 2 is $68,100 (excluding any income or loss from Beau Geste). This amount includes $10,860 in income from her other passive investments.

Based on the information above, complete the following:

Initial year 1

Allowed loss

End of year 1 at-risk

Contribution for year 2

BG Income

Allowed loss

End of year 2 at-risk amount

At-risk allowed loss calculation:

Year Total Loss At-Risk Allowed At-Risk Disallowed

1

2

Total Loss of Molly =

Passive activity loss allowed calculation: At-Risk Allowed PAL Allowed PAL Disallowed

Year

1

2