22 At the beginning of the tax year, Tim had a $2,000 stock basis in the S corporation, World, Inc Tim owns 25 of the outstanding World, Inc stock At the end of the tax year, World, Inc reported on its Schedule K, a $16,000 ordinary loss, $4,000 of interest income, and $2,000 in nondeductible expense Tim also has $10,000 in flow through reportable income from other S corporations How much of the World, Inc ordinary loss can Tim deduct on his personal return $0 $2,500 $3,000 $4,000 22 At the beginning of the tax year, Tim had a $2,000 stock basis in the S corporation, World, Inc Tim owns 25 of the outstanding World, Inc stock At the end of the tax year, World, Inc reported on its Schedule K, a $16,000 ordinary loss, $4,000 of interest income, and $2,000 in nondeductible expense Tim also has $10,000 in flow through reportable income from other S corporations How much of the World, Inc ordinary loss can Tim deduct on his personal return $0 $2,500 $3,000 $4,000

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22  At the beginning of the tax year, Tim had a $2,000 stock basis in the S corporation, World, Inc  Tim owns 25  of the outstanding World, Inc  stock  At the end of the tax year, World, Inc  reported on its Schedule K, a $16,000 ordinary loss, $4,000 of interest income, and $2,000 in nondeductible expense  Tim also has $10,000 in flow through reportable income from other S corporations  How much of the World, Inc  ordinary loss can Tim deduct on his personal return  $0 $2,500 $3,000 $4,000 22  At the beginning of the tax year, Tim had a $2,000 stock basis in the S corporation, World, Inc  Tim owns 25  of the outstanding World, Inc  stock  At the end of the tax year, World, Inc  reported on its Schedule K, a $16,000 ordinary loss, $4,000 of interest income, and $2,000 in nondeductible expense  Tim also has $10,000 in flow through reportable income from other S corporations  How much of the World, Inc  ordinary loss can Tim deduct on his personal return    $0   $2,500   $3,000   $4,000

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22. At the beginning of the tax year, Tim had a $2,000 stock basis in the S corporation, World, Inc. Tim owns 25% of the

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