How much of these losses can joanne deduct, Accounting Basics

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How much of these losses can joanne deduct

In 2010, Joanne invested $90,000 for a 20% interest in a limited liability company (LLC) in which she is a material participant. The LLC reported losses of $340,000 in 2010 and $180,000 in 2011. Joanne's share of the LLC's losses was $68,000 in 2010 and $36,000 in 2011. How much of these losses can Joanne deduct?

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Accounting Basics: How much of these losses can joanne deduct

Reference No:- TGS080213

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : By what percentage must given costs be reduced

Q : Compute the accounts receivable turnover

Q : Margin ratio and the unit contribution margin

Q : Compute the normal time for each element

Q : How much of these losses can joanne deduct

Q : Calculate the average cost of the cakes produced

Q : What is the net amount of dentech''s cost

Q : Prepare a production budget in units

Q : Using social media outlets as part of sustainability plan

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: How much of these losses can joanne deduct

Reference No:- TGS080213

Recent Questions Asked Accounting Basics

Q : By what percentage must given costs be reduced

Q : Compute the accounts receivable turnover

Q : Margin ratio and the unit contribution margin

Q : Compute the normal time for each element

Q : How much of these losses can joanne deduct

Q : Calculate the average cost of the cakes produced

Q : What is the net amount of dentech''s cost

Q : Prepare a production budget in units

Q : Using social media outlets as part of sustainability plan

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