Question

A calendar year S corporation reports an ordinary loss of $80,000 and a capital loss of $20,000. Mei Freiberg owns 30% of the corporate stock and holds a $24,000 basis in the stock. Determine the amounts of the ordinary loss and capital loss, if any, that flow through to Freiberg.
Prepare a memo for the tax research files explaining your computations.


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  • CreatedMay 25, 2015
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