Question
In 2010, Joanne invested $90,000 for a 20% interest in a limited liability company (LLC) in which she is a material participant. The LLC reported
In 2010, Joanne invested $90,000 for a 20% interest in a limited liability company (LLC) in which she is a material participant. The LLC reported losses of $340,000 in 2010 and $180,000 in 2011. Joanne\'s share of the LLC\'s losses was $68,000 in 2010 and $36,000 in 2011. How much of these losses can Joanne deduct?
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2010 losses to be deducted 6800...
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South Western Federal Taxation 2020 Corporations, Partnerships, Estates And Trusts
Authors: William A. Raabe, James C. Young, William H. Hoffman, Annette Nellen, David M. Maloney
43rd Edition
357109163, 9780357109748, 978-0357109168
