Required Information CARES Problem 20-76 (LO 20-6) (Algo) [The following information applies to the questions displayed below.) Farell is a member of Sierra Vista LLC. Although Sierra Vista is involved in a number of different business ventures, it is not currently involved in real estate either as an investor or as a developer. On January 1. year 1. Farell has a $166,000 tax basis in his LLC interest that includes his $153,000 share of Sierra Vista's general debt obligations. By the end of the year, Farell's share of Sierra Vista's general debt obligations has increased to $166.000. Because of the time he spends in other endeavors. Farell does not materially participate in Sierra Vista. His share of the Sierra Vista losses for year 1 is $199.000. As a partner in the Riverwoods Partnership, he also has year 1. Schedule K-1 passive income of $11.000. Farrell is single and has no other sources of business income or loss. Assume CARES Act applies. (Leave no answer blank. Enter zero If applicable.) CARES Problem 20-76 Part c (Algo) Assume Farell is deemed to be an active participant in Sierra Vista. c-1. Determine how much of the Sierra Vista loss he will ultimately be able to deduct on his tax return for year 1. c-2. List the losses suspended due to tax-basis, at-risk, and passive activity loss limitations. 0-1 C-2 Deductible loss Losses suspended by tax basis limitation Losses suspended by at-risk limitation Losses suspended by passive activity loss limitation