Problem 7-61 (LO 7-4) (Algo) Molly Grey (single) acquired a 30 percent limited partnership interest in Beau Geste LLP several years ago for $60,000. At the beginning of year 1, Molly has tax basis and an at-risk amount of $29,000. In year 1, Beau Geste incurs a loss of $195,500 and does not make any distributions to the partners. In year 1, Molly's AGI (excluding any income or loss from Beau Geste) is $74,400. This includes $11,000 of passive income from other passive activities. In year 2, Beau Geste earns income of $30,600. In addition, Molly contributes an additional $25,670 to Beau Geste during year 2. Molly's AGI in year 2 is $78,300 (excluding any income or loss from Beau Geste). This amount includes $8,460 in income from her other passive investments. a. Based on the above information, complete the requirements A1 to A3. Complete this question by entering your answers in the tabs below. Required A1 Required A2 Required A3 Based on the above information, complete the following table: Note: Leave no answers blank. Enter zero if applicable. b. Based on the above information, complete the requirements B1 to B2. Complete this question by entering your answers in the tabs below. Required B1 Required B2 What are the cumulative total passive suspended losses at the end of year 2? Cumulative total passive suspended losses $ 28,510 < Required B1 Required B2 > Complete this question by entering your answers in the tabs below. Required B1 Required B2 Based on the above information, complete the following table: Year 2 AGI: AGI before Beau Geste: Year 2 passive income from Beau Geste Year 2 allowed passive losses Year 2 AGI 78,300 9,180 (17,640) $ 69,840 < Required B1 Required B2 > b. Based on the above inform Assessment Tool iFrame requirements B1 to B2. Complete this question by entering your answers in the tabs below. Required B1 Required B2 What are the cumulative total passive suspended losses at the end of year 2? Cumulative total passive suspended losses $ 28,510 < Required B1 Required B2 > b. Based on the above information, complete the requirements B1 to B2. Complete this question by entering your answers in the tabs below. Required B1 Required B2 Based on the above information, complete the following table: Year 2 AGI: AGI before Beau Geste: $ 78,300 Year 2 passive income from Beau Geste 9,180 Year 2 allowed passive losses (17,640) Year 2 AGI $ 69,840 < Required B1 Required B2 > Assessment Tool iFrame ove information, complete the requirements B1 to B2. Complete this question by entering your answers in the tabs below. Required B1 Required B2 What are the cumulative total passive suspended losses at the end of year 2? Cumulative total passive suspended losses $ 28,510 < Required B1 Required B2 > b. Based on the above information, complete the requirements B1 to B2. Complete this question by entering your answers in the tabs below. Required B1 Required B2 Based on the above information, complete the following table: Year 2 AGI: AGI before Beau Geste: $ 78,300 Year 2 passive income from Beau Geste 9,180 Year 2 allowed passive losses (17,640) Year 2 AGI $ 69,840 < Required B1 Required B2