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