During 2010 the s corporation reported an 80000 ordinary, Ask an Expert

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Suppose at the beginning of 2010, Jamaal's basis in his S corporation stock was $27,000 and that Jamaal has loaned the S corporation $10,000. During 2010, the S corporation reported an $80,000 ordinary business loss and no separately stated items. How much of the ordinary loss is deductible by Jamaal if he owns 50% of the S corporation?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M9410374

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