Win owns two separate unincorporated businesses and files a joint return for the year with Spouse. Win
Fantastic news! We've Found the answer you've been seeking!
Question:
Win owns two separate unincorporated businesses and files a joint return for the year with Spouse. Win has a gaming business that has $600,000 of income and $200,000 of deductions for the year:
But Win's additional restaurant business has $500,000 of income and $1.5 million of deductions for the year?
To what extent may Win deduct the losses?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: