Business, 15.07.2021 18:40 huneymarie

AV Inc. is a member of an LLC. This year, AV received a Schedule K-1 reporting a $1,200 share of capital loss and a $4,000 share of Section 1231 gain. During the year, AV recognized a $5,000 capital loss on the sale of marketable securities and a $17,000 Section 1231 loss on the sale of business equipment. What effect do the LLC losses have on AV's taxable income?

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AV Inc. is a member of an LLC. This year, AV received a Schedule K-1 reporting a $1,200 share of cap...