Sunnie owns 50% of the shares of corporation h, a calendar-year s corporation, having a basis of $7,000. she also guaranteed a corporate loan of $6,000. for the current year, h had an operating loss of $22,000. what is the amount of h’s loss that sunnie can deduct on her individual income tax return for the current year?

S. you are changing planes in london for a flight to paris where you will connect with your flight to capetown. you are picking up reading material for the flight and are looking at the prices listed on the economist magazine which conveniently lists prices in several different global currencies. you note that the price in pounds is 2.40 pounds and the price in euros is 2 euros. the exchange rate for the dollar (your credit card was issued in the usa) is $1.59/pound and s1.3837/euro. should you buy reading materials now or wait until you're in paris?