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, Molly's 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 Molly's 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 a Based on the above information, complete the following table Req A1 Req A2 Req A3 Based on the above information, complete the following table (Leave no answers blank Enter zero if applicable ) At Risk Amount Initial year 1 amount $20,000 Allowed loss (20,000) End of year 1 at risk amount $0 Contribution for year 2 $30,000 BG Income 9,000 Allowed loss (34,000) End of year 2 at risk amount $5,000 Req A1 Req A2 Req A3 Based on the above information, complete the following table (Leave no answers blank Enter zero if applicable ) Year Total Loss At Risk Allowed At Risk Disallowed 1 $54,000 $20,000 $34,000 2 34,000 $34,000 $0 Req A1 Req A2 Req A3 Based on the above information, complete the following table Year At Risk Allowed Passive Activity Loss Allowed Passive Activity Loss Disallowed 1 $20,000 $10,000 $10,000 2 $10,000 17,000 $27,000 Req B1 Req B2 What are the cumulative total passive suspended losses at the end of year 2 Cumulative total passive suspended losses Req B1 Req B2 Based on the above information, complete the following table Year 2 AGI AGI before Beau Geste $65,700 Year 2 passive income from Beau Geste 10,950 Year 2 allowed passive losses 26,360 Year 2 AGI $50,290 SOME ANSWERS ARE CORRECT AND SOME ANSWERS ARE WRONG, IT WAS JUST EASIER TO POST THE WHOLE THING REVOLVING THE ANSWERS THAT ARE INCORRECT THANK YOU FOR YOUR HELP )

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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 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, Molly's 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. Molly's 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.

a. Based on the above information, complete the following table:

Req A1

Req A2

Req A3

Based on the above information, complete the following table: (Leave no answers blank. Enter zero if applicable.)

At-Risk Amount:
Initial year 1 amount:	$20,000
Allowed loss:	(20,000)
End of year 1 at-risk amount	$0
Contribution for year 2	$30,000
BG Income	9,000
Allowed loss:	(34,000)
End of year 2 at-risk amount	$5,000

Req A1

Req A2

Req A3

Based on the above information, complete the following table: (Leave no answers blank. Enter zero if applicable.)

Year	Total Loss	At-Risk Allowed	At-Risk Disallowed
1	$54,000	$20,000	$34,000
2	34,000	$34,000	$0

Req A1

Req A2

Req A3

Based on the above information, complete the following table:

Year	At-Risk Allowed	Passive Activity Loss Allowed	Passive Activity Loss Disallowed
1	$20,000	$10,000	$10,000
2	$10,000	17,000	$27,000

Req B1

Req B2

What are the cumulative total passive suspended losses at the end of year 2?

Cumulative total passive suspended losses

Req B1

Req B2

Based on the above information, complete the following table:

Year 2 AGI:
AGI before Beau Geste:	$65,700
Year 2 passive income from Beau Geste	10,950
Year 2 allowed passive losses	26,360
Year 2 AGI	$50,290

SOME ANSWERS ARE CORRECT AND SOME ANSWERS ARE WRONG, IT WAS JUST EASIER TO POST THE WHOLE THING REVOLVING THE ANSWERS THAT ARE INCORRECT. THANK YOU FOR YOUR HELP. :)