What is the amount of sj corporations loss

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Reference no: EM13124403

Jennie purchased 50 percent of the shares of SJ Corporation, a calendar year S corporation, for $7,000. She also guaranteed a corporate loan of $6,000. For 2011, SJ Corporation had an operating loss of $22,000. What is the amount of SJ Corporation's loss that Jennie may deduct on her individual income tax return for 2011?

a. $11,000.
b. $10,000.
c. $7,000.
d. 0.

Reference no: EM13124403

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