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Can we reduce the prior years losses s corp when it is sol

Customer Question

can we reduce the prior years losses s corp when it is sold?
Submitted: 6 months ago.
Category: Tax
Expert:  Jason M. Tyra, CPA replied 6 months ago.
Hi There:Thanks for reaching out. I'm not sure if I understand your question here. A suspended passive loss to an S Corporation shareholder is deductible in the year the company is disposed. This is true of any passive suspended loss. Is that what you meant?

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