Suppose that at the beginning of 2022 SH's basis in his S corporation stock was $28,500 and SH has directly loaned the S corporation $9,980. During 2022, the S corporation reported an $80,200 ordinary business loss and no separately stated items. How much of the ordinary loss is deductible by SH if he owns 50 percent of the S corporation? Type your answer...

Suppose that at the beginning of 2022 SH's basis in his S corporation stock was $28,500 and SH has directly loaned the S corporation $9,980. During 2022, the S corporation reported an $80,200 ordinary business loss and no separately stated items. How much of the ordinary loss is deductible by SH if he owns 50 percent of the S corporation? Type your answer...

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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am. 110.