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Your basis will equal (more or less) any contributions (cash, loans, or market value of assets) plus or minus any net income/loss incurred, less any previous distributions.
Sooo....
You can lose and deduct up to what you put into/loan the S Corp, and the rest of the losses become "suspended" until you have basis to deduct them against.
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Blistex, in regards to crappy games -
They made pong look like a story driven RPG with a dynamic campaign.
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