Business, 10.09.2019 23:10, HaileyChristiansen20
On january 1, 2017, leo paid $15,000 for 5 percent of the stock in bls, an s corporation. in november, he loaned $8,000 to bls in return for a promissory note. bls generated a $600,000 operating loss in 2017. bls generated $408,000 ordinary business income in 2018. how much of leo’s share of this income is included in his 2018 taxable income?
Answers: 3
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On january 1, 2017, leo paid $15,000 for 5 percent of the stock in bls, an s corporation. in novembe...
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