Question
In 2019, Joanne invested $90,000 for a 20% ownership in a limited liability company (LLC) in which she is a material participant. The LLC reported
In 2019, Joanne invested $90,000 for a 20% ownership in a limited liability company (LLC) in which she is a material participant. The LLC reported losses of $340,000 in 2019 and $180,000 in 2020. Joanne's share of the LLC's losses was $68,000 in 2019 and $36,000 in 2020. How much of joanne's losses from her ownership in this LLC can she use in each year?
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AML Auditing Understanding Foreign Exchange What Every AML KYC Auditor Should Know
Authors: Bob Walsh
1st Edition
1539576248, 978-1539576242
