Workout Question 2 (30 points) A single taxpayer contributed $350,000 into a pass-through entity. During the year the business had $900,000 in revenues, $1.25 million in expenses, and a $50,000 distribution. What is his deductible loss if he actively managed the business? What is his deductible loss if he was a passive owner? Please provide the detail calculation of at-risk amount limitation, passive loss limitation (if any) and excess business loss limitation. What is the end of year at-risk amount for this taxpayer? Workout Question 2 (30 points) A single taxpayer contributed $350,000 into a pass-through entity. During the year the business had $900,000 in revenues, $1.25 million in expenses, and a $50,000 distribution. What is his deductible loss if he actively managed the business? What is his deductible loss if he was a passive owner? Please provide the detail calculation of at-risk amount limitation, passive loss limitation (if any) and excess business loss limitation. What is the end of year at-risk amount for this taxpayer