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Required Information [The following Information applies to the questions displayed below.] Ray and Chuck own 50 percent capital and profits Interests In Alpine Properties

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Required Information [The following Information applies to the questions displayed below.] Ray and Chuck own 50 percent capital and profits Interests In Alpine Properties LLC. Alpine builds and manages rental real estate, and Ray and Chuck each workspercent capital and profits Interests In Alpine Properties LLC. Alpine builds and manages rental real estate, and Ray and Chuck each works full time (over full time (over 1,000 hours per year) managing Alpine. Alpine's debt (at both the beginning and end of the year) consists of $1,510,000 in nonrecourse mortgages obtained from an unrelated bank and secured by various rental properties. At the beginning of the current year, Ray and Chuck each had a tax basis of $250,000 in his respective LLC Interest, including his share of the nonrecourse mortgage debt. Alpine's ordinary business losses for the current year totaled $520,000, and neither member is involved in other activities that generate passive Income. (Leave no answer blank. Enter zero if applicable.) c. How much of each member's loss is suspended because of the passive activity loss limitation? [Hint: See I.R.C. 469(c)(7).] Ray Chuck Loss suspended

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