Question: Exercise 1 1 - 1 5 ( Algorithmic ) ( LO . 6 ) Noelle, the owner of all of the shares of ClockCo, an

Exercise 11-15(Algorithmic)(LO.6) Noelle, the owner of all of the shares of ClockCo, an S corporation, transfers her stock to Grayson on April 1. ClockCo reports a $147,000 NOL for the entire tax year, but only $22,050 of the loss occurs during January-March. Assume 365 days in a year. Round per day computations to five decimal places. Round final answers to the nearest dollar. Without a short-year election, how much of the loss is allocated to Noelle and how much is allocated to Grayson? Noelle's loss allocation: $fill in the blank 1 Grayson's loss allocation: $fill in the blank 2 If the corporation makes the short-year election, how much of the loss is allocated to Grayson? $fill in the blank 3 Feedback Area Feedback If a shareholder's interest is completely terminated by disposition or death during the tax year, all shareholders holding stock during the year and the corporation may elect to treat the S taxable year as two taxable years. Exercise 11-15(Algorithmic)(L0.6) Noelle, the owntr of all of the shares of ClockCo, an S corporation, transfers her stock to Grayson on April 1. ClockCo reports a \(\$ 147,000\) NOL for the entire tax year, but only \(\$ 22,050\) of the loss ocrurs during 3anuary-March. Assume 365 days in a year. Round per day computations to five decimal places. Round final answers to the nearest dollar. Without a short-year election, how much of the loss is allocated to Noelle and how much is allocated to Grayson? Noelle's loss allocation: Gravson's loss allocation: : If the corporation makes the short-year election, how much of the loss is allucated to Grayson? 4 Feedtom " meak Wh Wer If a shareholder's interest is completely terminated by disposition or death during the tax year, all shareholders holding stock during the year and the corporation may efect to treat the S taxable year as two tayable years.
Exercise 1 1 - 1 5 ( Algorithmic ) ( LO . 6 )

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