Boston Company, an electing S corporation, has an operating loss of $400,000 for the c

urrent year. Hank owns a 40% interest in the company and is a material participant. At the beginning of the year, Hank's adjusted basis in the stock is $30,000. During the year the company borrows $100,000 with a recourse note. How much of the loss can Hank deduct on his current-year income tax return？()

A.$0

B.$30,000

C.$70,000

D.$160,000

E.$200,000

提问人：网友CYH2021 发布时间：2022-01-07

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