Dawn adams owns 60 percent of a calendar-year s corporation, Ask an Expert

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Dawn Adams owns 60 percent of a calendar-year S corporation during 2008. Her stock basis on December 31, 2008, is $17,000, and her debt basis is $2,000. If the S corporation incurs a $48,000 loss for 2009, what amount may Ms. Adams deduct on her individual tax return.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9415066

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