Dawn Adams owns 60% of a calendar year S corporation during 2008.Her stock basis on December 31,2007 is $17,000,and her debt basis is $2,000.If the S corporation incurs a $48,000 loss for 2008,what amount may Ms.Adams deduct on her individual tax return?

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The Answer of Dawn Adams owns 60% of a calendar year S corporation during 2008.Her stock basis on December 31,2007 is $17,000,and her debt basis is $2,000.If the S corporation incurs a $48,000 loss for 2008,what amount may Ms.Adams deduct on her individual tax return?

Dawn Adams Owns 60% of a Calendar Year S Corporation