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Required information [ The following information applies to the questions displayed below. ] Ray and Matias own 5 0 percent capital and profits interests in
Required information
The following information applies to the questions displayed below.
Ray and Matias own percent capital and profits interests in Alpine
Properties LLC Alpine builds and manages rental real estate, and Ray
and Matias each work full time over hours per year managing
Alpine. Alpine's liabilities at both the beginning and end of the year
consist of $ in nonrecourse mortgages obtained from an
unrelated bank and secured by various rental properties. At the
beginning of the current year, Ray and Matias each had a tax basis of
$ in his respective LLC interest, including his share of the
nonrecourse mortgage liability. Alpine's ordinary business losses for the
current year totaled $ and neither member is involved in other
activities that generate passive income.
Note: Leave no answer blank. Enter zero if applicable.
b How much of each member's loss is suspended because of the atrisk limitation
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