operating losses in excess of A.A.A.

[cholatse]

received final K-1 from S-corp with ordinary loss. Box 17 on K-1 has perating losses to date in excess of A.A.A.. Does this loss affect the deductibility of the ordinary loss or is it strictly a corporate level issue?

[dsi]

To determine if the flow through loss is deductible by your client, you must first determine the S/H basis. Look at TTB page SB 3-7.