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Business, 21.12.2019 04:31 sethjohnson386pbnm3x

Suppose that at the beginning of 2019 jamaal's basis in his s corporation stock is $0, he has a $0 debt basis associated with a $16,000 loan he made to the s corporation, and he has a $11,000 suspended loss from the s corporation. in 2019, jamaal contributed $14,000 to the s corporation, and the s corporation had ordinary income of $10,000. assume that jamaal owns 40 percent of the s corporation. how much net income or loss does jamaal report this year from the s corporation?

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