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Unformatted text preview: ordinary income in those years, subject to the $3,000 limit. Long term capital gain w individuals. a) There will be no tax consequences to Susan. b) No tax consequences can be charged to the corporation. c) Due to the fact that Susan is neither the owner or in control of the corporation, Sec any subsequent gain. This allows taxpayers estment. ips, Limited Liablity Companies/Partnerhips are required to to use a ar if they meet certain requirements. In almost all cases, these entities with the individuals. A corporation can deduct capital an excess capital loss, it cannot deduct the loss in the ny net capital gains that occur in those years. For t ordinary income, subject to a limit. The maximum ed taxpayers filing separately. Any loss not absorbed either offset against capital gains or deducted against ill be subject to tax at favorable tax rates for c 351 rules will not apply and she will have to recognize...
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This note was uploaded on 05/01/2011 for the course FINANCE 516 taught by Professor Anderson during the Spring '11 term at Keller Graduate School of Management.
- Spring '11