Question: All numbers necessary for calculations in part b, c, d, and e are in the first picture in the require information box. Please response as

All numbers necessary for calculations in part b, c, d, and e are in the first picture in the require information box. Please response as soon as possible!All numbers necessary for calculations in part b, c, d, and eare in the first picture in the require information box. Please response

as soon as possible! Required information [The following information applies to thequestions displayed below.] Farell is a member of Sierra Vista LLC. AlthoughSierra Vista is involved in a number of different business ventures, it

Required information [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 liabilities. By the end of the year, Farell's share of Sierra Vista's general liabilities have 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. Farell is single and has no other sources of business income or loss. (Leave no answer blank. Enter zero if applicable.) 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. Assume Farell's Riverwoods K-1 indicates passive income of $33,000. b-1. Determine how much of the Sierra Vista loss he will ultimately be able to deduct on his tax return for year 1. b-2. List the losses suspended due to tax-basis, at-risk, and passive activity loss limitations. 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. d. Assuming Farell is deemed to be an active participant in Sierra Vista and he has a $268,000 loss from a sole proprietorship, determine how much total trade or business loss Farell will deduct on his return if year 1 is 2020 . e. Assuming Farell is deemed to be an active participant in Sierra Vista and he has a $268,000 loss from a sole proprietorship, determine how much total trade or business loss Farell will deduct on his return if year 1 is 2021

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