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7. Jen owns a sole proprietorship, and Steve is the sole shareholder of a C (regular) corporation. Each business sustained a $14,000 operating loss and

7. Jen owns a sole proprietorship, and Steve is the sole shareholder of a C (regular) corporation. Each business sustained a $14,000 operating loss and a $3,000 capital loss for the year. Evaluate how these losses will affect the taxable income of the two owners

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