Question: help me answer this question please Exercise 22-23 (Algorithmic) (LO. 9) Kaiwan, Inc., a calendar year S corporation, is partly owned by Sharrod, whose beginning

 help me answer this question please Exercise 22-23 (Algorithmic) (LO. 9)

help me answer this question please

Kaiwan, Inc., a calendar year S corporation, is partly owned by Sharrod,

Exercise 22-23 (Algorithmic) (LO. 9) Kaiwan, Inc., a calendar year S corporation, is partly owned by Sharrod, whose beginning stock basis is $135,000. During the year, Sharrod's share of a Kaiwan long-term capital gain (LTCG) is $20,250, and his share of an ordinary loss is $81,675. Sharrod then receives a $81,000 cash distribution. If an amount is zero, enter "a". a. How much of the loss may Sharrod currently deduct? $:] X . b. Sharrod's has a suspended loss of $:] X . c. Sharrod's new basis in the Kaiwan stock is m / . Feedback V Check My Work One major advantage of an 5 election is the ability to pass through any net operating loss of the corporation directly to the shareholders. A shareholder can deduct an NOL for the year in which the S corporation's tax year ends. The corporation does not deduct the NOL

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