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15 May, 16:31

Joanne invested $90,000 for a 20% interest in a limited liability company (LLC) in which she is a material participant. The LLC reported losses of $340,000 in 2019 and $180,000 in 2020. How much of these losses can Joanne deduct in 2019 and in 2020?

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  1. 15 May, 16:41
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    Her loss for each year is

    $ 340000 * 0.2 = $ 68 000

    $ 180000 * 0.2 = $ 36 000

    the loss she will remove in 2019 $ 68 000 and in 2020 she remove ($ 90000 - $ 68 000) = $ 22000

    $ 68 000 in 2019 and $ 22000 in 2020
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Home » Business » Joanne invested $90,000 for a 20% interest in a limited liability company (LLC) in which she is a material participant. The LLC reported losses of $340,000 in 2019 and $180,000 in 2020. How much of these losses can Joanne deduct in 2019 and in 2020?
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