S CORP


T

togo

I am a new business trying to understand .....Can a S corp
deduct any business losses, if so is it Schedule E to line
17 of the 1040 (if used)? If so does a dollar limitation
apply.

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B

Benjamin Yazersky CPA

togo said:
I am a new business trying to understand .....Can a S corp
deduct any business losses, if so is it Schedule E to line
17 of the 1040 (if used)? If so does a dollar limitation
apply.

An S corp is generally a pass through entity.
Many items are separately stated.
Accordingly, most limitations apply at the individual level.
State treatment varies.

___________________________________
<<< Benjamin Yazersky, CPA [NJ & NY] >>>
-----> real address on hobokeni or hobokenx <-----

<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
 

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