In 2023, Joanne invested $110,000 for a 20% interest in a littated liability company (LLC) in which she is a material participant. The LLC imported losses of $375,000 in 2023 and $250,000 m 2024 Joanne's share of the LLC's losses was $75,000 in 2025 and $50,000 in 2024. 

How much of these losses can Joanne deduct?

Answer rating: 100% (QA)

To determine how much of the losses Joanne can deduct we need to consider her basis in the LLC and t... View the full answer