Sunnie purchased 50 percent of the shares of corporation h, Ask an Expert

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Sunnie purchased 50 percent of the shares of corporation H, a calendar year S corporation, for $7,000. She also guaranteed a corporate loan of $6,000. For 2011, H had an operating loss of $22,000. What is the amount of H's loss that Sunnie can deduct on her individual income tax return for 2011?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9975076

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