Bryan has a s corp stock with a basis of $5,000 and he has a $4,000 loan he made to the corporation that is still outstanding. His share of the corporation's long-term capital gain for the year is $1,000 and his share of the corporation's operating loss is $6,000. At the end of the year the corporation distributed $6,000 to bryan. How much of the $6,000 operating loss can Bryan deduct this year?

Answer rating: 100% (QA)

Bryans share of the corporations operating loss is 6000 However he also has a basis in his S corpora... View the full answer