Business, 16.10.2019 22:00 Thisisdifinite

Timothy gates and prada singh decide to form a new company, tgps llc (a multimember llc that will report its operations as a partnership). timothy is married, and prada is single. each contributes $400,000 of capital to begin the business, and both materially participate in the business. in 2019, tgps reports a net loss of $580,000. what are the implications of this loss for timothy and prada? if an amount is zero, enter "0". timothy has an excess business loss of $. he may use $ of his share of the $580,000 llc business loss to offset . prada has an excess business loss of $. she may use $ of her share of the $580,000 llc business loss to offset . any excess business loss is .

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Timothy gates and prada singh decide to form a new company, tgps llc (a multimember llc that will re...