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.If the S corporation incurs a $48,000 loss for 2010,what amount may Ms.Adams deduct on her individual tax return?

Question

Quizplus · Accepted Answer

The Answer of 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.If the S corporation incurs a $48,000 loss for 2010,what amount may Ms.Adams deduct on her individual tax return?

Dawn Adams Owns 60% of a Calendar Year S Corporation