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11-25 Net Losses. A calendar year S corporation has the following information for the current taxable year: Sales . . . . . $180.000 Cost

11-25 Net Losses. A calendar year S corporation has the following information for the current taxable year: Sales . . . . . $180.000 Cost of goods sold. . . . . (130,000) Net capital loss . .. . . . ....

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