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18- In its first year of existence, KES, an S corporation, reported a business loss of...

18- In its first year of existence, KES, an S corporation, reported a business loss of $10,000. Kim, KES’s sole shareholder, reports $50,000 of taxable income from sources other than KES. What must you know to determine whether she can deduct the $10,000 loss against her other income? Explain

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