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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 earns 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:

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

Complete this question by entering your answers in the tabs below.

Req B1

Complete this question by entering your answers in the tabs below.

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: $12,400
Allowed loss: 25,500
End of year 1 at-risk amount $0
Contribution for year 2
BG Income
Allowed loss:
End of year 2 at-risk amount

Req B2

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

Cumulative total passive suspended losses

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