Peter owns 50 of Air Elite Corporation, an air charter service His S corporation stock basis at the beginning of the year is $100,000 Air Elite has not done well this year and will report an ordinary...

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Peter owns 50 of Air Elite Corporation, an air charter service His S corporation stock basis at the beginning of the year is $100,000 Air Elite has not done well this year and will report an ordinary loss of $375,000 What tax issues should Peter consider with respect to the loss ...

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Peter owns 50% of Air Elite Corporation, an air charter service. His S corporation stock basis at

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Peter owns 50% of Air Elite Corporation, an air charter service. His S corporation stock basis at

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