Question: AV Inc is a member of an LLC This year

AV Inc. is a member of an LLC. This year, AV received a Schedule K-1 reporting a $1,200 share of capital loss and a $4,000 share of Section 1231 gain. During the year, AV recognized a $5,000 capital loss on the sale of marketable securities and a $17,000 Section 1231 loss on the sale of business equipment. What effect do the LLC losses have on AV’s taxable income?

View Solution:

Sale on SolutionInn
  • CreatedNovember 03, 2015
  • Files Included
Post your question