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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 $$150,000$ tax basis in his LLC interest that includes his $$133,000$ share of Sierra Vista$$s general liabilities. By the end of the year, Farell$$s share of Sierra Vista$$s general debt obligations has increased to $$150,000.$ 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 $$190,000.$ As a partner in the Riverwoods Partnership, he also has year $1,$ Schedule K$-1$ passive income of $$12,000.$ Farell is single and has no other sources of business income or loss

A$-1$ Determine how much of the Sierra Vista loss he will ultimately 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$.$

B$-$Assume Farell$$s K$-1$ indicates passive income of $$36,000.$

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$.$

C$-$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$)$ Assume Farell is deemed to be an active participant in Sierra Vista, and he also has a $$325,000$ loss from a sole proprietorship. How much total trade or business loss will Farrel deduct on his year $1$ return.

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