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How much of the loss can he deduct

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Problem - Kim is a 40% shareholder in Taupe, a calendar year S corporation. During 2019, Taupe had an operating loss of $200,000. If Kim has a basis of $50,000 in his stock and has made a loan to Taupe of $20,000, how much of the loss can he deduct for 2019?

Reference no: EM132673397

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