S1. Account !Required information[The following information applies to the questions displayed below.]Ray and Chuck own 50 percent capital and profits interests in AlpineProperties LLC. Alpine builds and manages rental real estate, and Rayand Chuck each works full time (over 1,000 hours per year) managingAlpine. Alpine's liabilities (at both the beginning and end of the year)consists of $1,580,000 in nonrecourse mortgages obtained from anunrelated bank and secured by various rental properties. At thebeginning of the current year, Ray and Chuck each had a tax basis of$250,000 in his respective LLC interest, including his share of thenonrecourse mortgage liability. Alpine's ordinary business losses forthe current year totaled $534,000, and neither member is involved inother activities that generate passive income. (Leave no answerblank. Enter zero if applicable.)d. If both Ray and Chuck are single and Ray has a current-year loss of $17,000 from asole proprietorship, how much trade or business loss can each deduct on his taxreturn if the current year is 2020?Answer is complete but not entirely correct.Total business loss $ 250,000 >e. If both Ray and Chuck are single and Ray has a current-year loss of $17,000 from asole proprietorship, how much trade or business loss can each deduct on his taxreturn if the current year is 2021?> Answer is complete but not entirely correct.ChuckLoss deductibleRay$ 259,000S250,000

The given question provides information about Ray and Chuck, who are owners of Alpine Properties…

d. If both Ray and Chuck are single and Ray has a current-year loss of $17,000 from a sole proprietorship, how much trade or business loss can each deduct on his tax return if the current year is 2020? Answer is complete but not entirely correct. Total business loss $ 250,000 e. If both Ray and Chuck are single and Ray has a current-year loss of $17,000 from a sole proprietorship, how much trade or business loss can each deduct on his tax return if the current year is 2021?