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Business, 20.11.2019 22:31 karenjunior

During 2019, leisel, a single taxpayer, operates a sole proprietorship in which she materially participates. her proprietorship generates gross income of $142,000 and deductions of $420,000, resulting in a loss of $278,000. the large deductions are due to the acquisition of equipment and the use of immediate expense and additional first-year depreciation to deduct all of the acquisitions. can leisel use all of this loss to offset other income she has? she may use $ of the $278,000 proprietorship business loss to offset nonbusiness income . leisel has an excess business loss of $. the excess business loss is treated as part of her nol carryforward .

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