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Exercise 20-31 (Algorithmic) (LO. 8) Kim is a 40% shareholder in Taupe, a calendar year s corporation. During 2021, Taupe had an operating loss of

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Exercise 20-31 (Algorithmic) (LO. 8) Kim is a 40% shareholder in Taupe, a calendar year s corporation. During 2021, Taupe had an operating loss of $445,800. Kim has a basis of $111,450 in his stock and has made a loan to Taupe of $44,580. How much of the loss can he deduct for 2021

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