Cloris owns 35% of the stock of Jacket, Inc., an S corporation, and she lends the corporation

Question:

Cloris owns 35% of the stock of Jacket, Inc., an S and she lends the $7,000 during the year. Her stock basis in the Jacket stock at the end of the year is $25,000. If Jacket sustains a $110,000 operating loss during the year, what amount, if any, can Cloris deduct with respect to the pass-through loss?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...