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33.Tori purchased 50 percent of the shares of corporation H, a calendar year S corporation,...

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Question

Accounting

33.Tori purchased 50 percent of the shares of corporation H, a calendar year S corporation, for $7,000. She also guaranteed a corporate loan of $6,000. This year, H had an operating loss of $22,000. What is the amount of H's loss that Tori can deduct on her individual income tax return?

Group of answer choices

a)$11,000

b)$10,000

c)$7,000

d)$0

Answer & Explanation Solved by verified expert
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