Business, 12.10.2021 01:00 adrianayepez8

Molly Grey (single) acquired a 30 percent limited partnership interest in Beau Geste LLP several years ago for $64,500. At the beginning of year 1, Molly has tax basis and an at-risk amount of $28,000. In year 1, Beau Geste incurs a loss of $200,000 and does not make any distributions to the partners. In year 1, Molly's AGI (excluding any income or loss from Beau Geste) is $79,600. This includes $11,500 of passive income from other passive activities. In year 2, Beau Geste earns income of $30,800. In addition, Molly contributes an additional $28,260 to Beau Geste during year 2. Molly's AGI in year 2 is $84,700 (excluding any income or loss from Beau Geste). This amount includes $8,080 in income from her other passive investments. Required:
What are the cumulative total passive suspended losses?

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Molly Grey (single) acquired a 30 percent limited partnership interest in Beau Geste LLP several yea...