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Susan is the sole owner of Suzy's Creations, an S corporation. Susan's company has had several years of losses and her stock basis in the
Susan is the sole owner of Suzy's Creations, an S corporation. Susan's company has had several years of losses and her stock basis in the corporation had been reduced to zero at the beginning of this year. She loaned the corporation $20,000 dollars this year. The S corporation losses for the current year are $10,000. How much of the current year losses may Susan deduct on her personal return? Question 1Select one: a. $ 5,000 b. $20,000 c. $10,000 d. $15,000
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