Problem related to long-term capital loss

Reference no: EM13122600

Emu Company, which was formed in 2010, had operating income of $200,000 and operating expenses of $120,000 in 2010. In addition, Emu had a long-term capital loss of $10,000. How does Andrew, the owner of Emu Company, report this information on his individual tax return under the following assumptions?

a. Emu Company is an S corporation and pays no dividends.

b. Emu Company is a C corporation and pays no dividends during the year.

Reference no: EM13122600

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