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can you please help Don Juan, a single taxpayer, is the sole owner of DJ's Incorporated, an S Corporation. In 2023 , DJ's Incorporated incurred
can you please help Don Juan, a single taxpayer, is the sole owner of DJ's Incorporated, an S Corporation. In 2023 , DJ's Incorporated incurred a massive $600,000 business loss, all of which is allocable to Don Juan as the sole shareholder. Assume that the $600,000 loss is not limited by the basis, at-risk, or passive loss rules, and that Don Juan has no other business income or business losses. How much of the $600,000 loss will Don Juan be able to deduct this year? What happens to any loss not deducted this year? Answer is complete but not entirely correct
can you please help
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