Chathum reports ordinary income of 80000 and a short term

Reference no: EM13480838

During the current year, Inge sells stock she has purchased three years ago at a loss of $9,000. She owns 10% interest at Chathum, Inc., which is organized as a S corporation. Chathum reports ordinary income of $80,000 and a short term capital gain of $30,000 during the current year. What are the effects of these two investments on Inge's taxable income?

Reference no: EM13480838

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