Tita, a married taxpayer filing jointly, has a $700,000 business loss from her S corporation.Assume the $700,000 loss satisfies the basis, at-risk, and passive loss rules.Assume also that neither she nor her husband has any other business losses or business income.How much of the $700,000 loss may she deduct this year?

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The Answer of Tita, a married taxpayer filing jointly, has a $700,000 business loss from her S corporation.Assume the $700,000 loss satisfies the basis, at-risk, and passive loss rules.Assume also that neither she nor her husband has any other business losses or business income.How much of the $700,000 loss may she deduct this year?

Tita, a Married Taxpayer Filing Jointly, Has a $700,000 Business