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Brady is starting a new business where he will be the only owner. He would like to have limited liability, but he would prefer flow
Brady is starting a new business where he will be the only owner. He would like to have limited liability, but he would prefer flowthrough taxation because he expects to have losses in the first few years. He is not concerned about incurring selfemployment taxes. He does not want to have to file a separate tax return for the entity. Which of the following entities would best suit Bradys needs?
APartnership
BSinglemember LLC
CS corporation
DProprietorship
Which of the following is not a disallowed loss?
ALosses on the sale of personal use assets.
BLosses on the subsequent sale of property gifted or sold to a related party when its fair market value is less than the original owner's adjusted basis.
CLoss from a wash sale.
DCapital losses in excess of $
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