Corbin has a $15,000 basis in his 50% ownership in an S corporation and lent the corporation $5,000 last year. The corporation has $30,000 of other…

10. Corbin has a $15,000 basis in his 50% ownership in an S corporation and lent the corporation $5,000 last year. The corporation has $30,000 of other debt. This year the corporation reported a $100,000 loss. How much of this loss may Corbin deduct? (Points : 3) $15,000$20,000$35,000$50,000

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