Required Information Problem 09-76 (LO 09-6) (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 elther as an Investor or as a developer. On January 1 , year 1 , Farell has a $140,000 tax basis in his LLC Interest that includes his $129,000 share of Sierra Vista's general liabilities. By the end of the year, Farell's share of Slerra VIsta's general ilabilities have increased to $140,000. 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 $165,000. As a partner In the Riverwoods Partnership, he also has year 1 , Schedule K-1 passive income of $9,000. Farell is single and has no other sources of business income or loss. (Leave no answer blank. Enter zero if applicable.) Problem 09-76 Part a (Algo) a-1. Determine how much of the Sierra Vista loss Farell will currently be able to deduct on his tax return for year 1. a-2. List the losses suspended due to tax-basis, at-risk, and passive activity loss limitations