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grigory [225]
3 years ago
9

Suppose Clampett, Incorporated, terminated its S election on August 28, 2020. At the end of the S corporation's short tax year e

nding on August 28, J.D.'s stock basis and at-risk amounts were both zero (he has never had debt basis), and he had a suspended loss of $20,350. In 2021, J.D. made additional capital contributions of $5,350 on March 15 and $13,050 on September 20. How much loss may J.D. deduct in 2021
Business
1 answer:
Crazy boy [7]3 years ago
5 0

Answer:

$5,350

Explanation:

Based on the information given we were told that In the year 2021, J.D. made additional capital contributions of the amount of $5,350 on March 15 which simply means that J.D. can only deduct losses of the amount of $5,350 which was the additional capital contributions that was made on March 15.

Therefore How much loss may J.D. deduct in 2021 is $5,350

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4 years ago
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Molodets [167]
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When the fed buys government bonds, the reserves of the banking system a. decrease, so the money supply increases. b. decrease,
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