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Federal Taxes - Candy owns 40% of the stock of Park, Inc. an S corporation. Her stock basis is $25,000, and she loaned $10,000 to
Federal Taxes -
Candy owns 40% of the stock of Park, Inc. an S corporation. Her stock basis is $25,000, and she loaned $10,000 to the corporation during the year. How much of Park's $100,000 operating loss can Candy deduct for this year? Show your computation of the tax consequences in spreadsheet form.
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