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Question 17 (3 points) Listen 17. During the year, an S corporation incurs a net operating loss (NOL) of $22,000 and a $ 1231 gain
Question 17 (3 points) Listen 17. During the year, an S corporation incurs a net operating loss (NOL) of $22,000 and a $ 1231 gain of $4,000. At the beginning of the year, Rhonda, the entity's sole shareholder, has a $15,000 stock basis, and the corporation has a $21,000 balance in AAA. What amount, if any, of the NOL may Rhonda deduct on her personal return for the current year? a) $22,000 b) $-0- Oc) $18,000 d) $19,000 e) $21,000
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