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Rhonda has an adjusted basis and an at-risk amount of $12,400 in a passive activity at...

Rhonda has an adjusted basis and an at-risk amount of $12,400 in a passive activity at the beginning of the year. She also has a suspended passive activity loss of $2,480 carried over from the prior year. During the current year, she has a loss of $19,840 from the passive activity. Rhonda has no passive activity income from other sources this year. Determine the following items relating to Rhonda's passive activity as of the end of the year.

If an amount is zero, enter "0".

At year-end, Rhonda has the following:

a. Adjusted basis in the passive activity: $.
b. Loss suspended under the at-risk rules: $.
c. Suspended passive activity loss: $.

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Answer #1
Adjusted basis in passive activity 0

Loss suspended under the at risk rules

(Current passive loss 19,840 - 12,400)

 7440

Suspended passive activity loss

(current year suspended loss 12400 + Prior year suspended loss 2480)

 14,880

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