How much of loss may corbin deduct, Accounting Basics

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How much of loss may corbin deduct

Corbin has a $15,000 basis in his 50 percent ownership in an S corporation and lent the corporation $5,000 last year. The corporation has $30,000 of other debt. This year the corporation reported a $100,000 loss. How much of this loss may Corbin deduct?

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Accounting Basics: How much of loss may corbin deduct

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