Beginning in 2021, which of the following taxpayers is subject to the excess business loss limitation?
A) Delta Corporation, which incurred a $(2 million) business loss this year.
B) Kenny, who is married filing a joint return and incurred a $(675,000) business loss this year.
C) Linda, a single individual, who is a 50 percent partner in QT Partnership. This year, QT incurred a business loss of $(300,000) .
D) LetGo Partnership, which incurred a $(730,000) business loss this year.
Correct Answer:
Verified
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