Question: explain step by step Carlisle is a 50% partner in Brandi LLC, which does not invest in real estate. On January 11, Carlisle's adjusted basis

explain step by step
explain step by step Carlisle is a 50% partner in Brandi LLC,

Carlisle is a 50% partner in Brandi LLC, which does not invest in real estate. On January 11, Carlisle's adjusted basis for her LLC interest is $451,000, and her at-risk amount is $402,000. Her share of losses from Brandi for the current year is $788,000, all of which is passive. Carlisle owns as another investment that produced $362,000 of passive income during the year. (Assume there were no distributions or changes in liabilities during the year.) How much of Brandi's losses may Carlisle deduct on her Form 1040? How much of the loss is suspended and what Code provisions cause the suspensions? Applicable Provision Deductible Loss Suspended Loss $ 704(d) Overall limitation 5 465 At-risk limitation S 469 Passive loss limitation Therefore, Carlisle can deduct on her return in the current year

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