Tyrone is the president of JWH Manufacturing and owns 30% of its stock.JWH is organized as an S corporation.During 2013,JWH has a loss of $240,000.At the beginning of 2013,Tyrone's amount at-risk in JWH is $60,000.
a.What is Tyrone' deductible loss in 2013? What is Tyrone's at-risk amount at the end of 2013?
b.In 2014,JWH has a taxable income of $100,000.What is the effect on Tyrone's 2014 income? What is Tyrone's at-risk amount at the end of 2014?

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The Answer of Tyrone is the president of JWH Manufacturing and owns 30% of its stock.JWH is organized as an S corporation.During 2013,JWH has a loss of $240,000.At the beginning of 2013,Tyrone's amount at-risk in JWH is $60,000.
a.What is Tyrone' deductible loss in 2013? What is Tyrone's at-risk amount at the end of 2013?
b.In 2014,JWH has a taxable income of $100,000.What is the effect on Tyrone's 2014 income? What is Tyrone's at-risk amount at the end of 2014?

Tyrone Is the President of JWH Manufacturing and Owns 30