Problem 09-76 (LO 09-6) (Algo) [The following information applies to the questions displayed below.] 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 liabilities. By the end of the year, Farell's share of Sierra Vista's general liabilities have 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. Farell is single and has no other sources of business income or loss. (Leave no answer blank. Enter zero if applicable.) Problem 09-76 Part a (Algo) a-1. Determine how much of the Sierra Vista loss Farell will currently 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. Answer is complete but not entirely correct. a-1. Deductible loss a-2. Losses suspended by tax basis limitation a-2. Losses suspended by at-risk limitation a-2. Losses suspended by passive activity loss limitation S S S S 12 9,000 140,000 0x

Hansen Corporation. a C Corporation (mot a manufacturer) reports the following items in income and expenses for 2021 Gross Revenue $900,000 Dividend Received from 30% owned Corp 200,000 LTCG 30,000 STCL 12000 City of Lee's Summit Bond Interest 10000 COGS 375000 Administrative Expenses 325000 Charitable Contribution 60,000 Compute Hansen's C Corp Taxable income?

What is covered by Regulation S–K?

What are some exceptions to UBIT provided by legislation?