What amount may she deduct on her individual tax return, Accounting Basics

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What amount may she deduct on her individual tax return

Dawn Adams owns 60% of a calendar year S corporation during 2010. Her stock basis on December 31, 2009 is $17,000, and her debt basis is $2,000 from her loan to the corporation.

If Dawn's share of the S corporation loss for 2010 is ($22,000), what amount may she deduct on her individual tax return for 2010?

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Accounting Basics: What amount may she deduct on her individual tax return

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Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What amount may she deduct on her individual tax return

Reference No:- TGS089847

Recent Questions Asked Accounting Basics

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