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 $140,000 tax basis in his LLC interest that includes his $129,000 share of Sierra Vista’s general debt obligations. By the end of the year, Farell’s share of Sierra Vista’s general debt obligations has increased to $140,000. 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 $165,000. As a partner in the Riverwoods Partnership, he also has year 1, Schedule K-1 passive income of $9,000. Farrell is single and has no other sources of business income or loss. Assume CARES Act applies. (Leave no answer blank. Enter zero if applicable.) Enter zero if applicable.) 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. Deductible loss OOO Losses suspended by tax basis limitation Losses suspended by at-risk limitation Losses suspended by passive activity loss limitation Assuming Farell is deemed to be an active participant in Sierra Vista and he has a $260,500 loss from a sole proprietorship, determine how much total trade or business loss Farell will deduct on his return in year 1. Loss deductible

typically a loft will include modern kitchen and bathrooms, this increases the price tag. lofts also have a good amount of open space, this requires more heating and electricity. lofts are also in older buildings, this means that maintaining the location increases the bill. keep in mind this is without talking about the high state and property taxes.

i hope this you! : )

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

apex verified answer < 3

: : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : d. choose to : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : : :

i really hope this < 3 < 3 < 3