Problem 5: Deductibility of losses part 1 Manny Kant is invested two passive activities: Categorical, LLC and Imperative, Inc. As of 1/1/2020 he had the following At-Risk Basis and Suspended Losses in each Investment: Categorical, LLC Imperative, Inc. At-Risk Basis $250,000 $0 Suspended Losses under At-Risk 0 Rules ($40,000) Suspended Passive Activity Losses ($30,000) ($80,000) In addition Manny was allocated the following passive income/(loss) from the investments in 2020 and 2021 Categorical, LLC Imperative, Inc. 2020 Income/(loss) $50,000 $60,000 2021 Income/(loss) $150,000 ($100,000) Categorical, LLC Imperative, Inc. 2020 Income/(loss) $50,000 $60,000 2021 Income/(loss) $150,000 ($100,000) Required Part 1: What is Manny's at-risk basis in Categorical, LLC on 12/31/2021