Billy Bob is at risk for $10,000 in Partnership A and $22,000 in Partnership B on January 1, 2015. Both partnerships are passive activities to Billy Bob. Billy Bob’s share of net income from Partnership A during 2015 was $8,000. His share of losses from Partnership B was $12,000. What are the tax consequences to Billy Bob for 2015? How much is he at risk for each activity on January 1, 2016? Does he have any loss carryovers under the at-risk rules? Does he have any suspended losses under the passive loss rules?