On January 1, 2022, Fannie and Beola own equally (fifty percent (50%)) of the stock of Leona Corporation, an S Corporation. Leona Corporation has a $82,600 Operating Loss for the year of 2022. On the 219th day of the year of 2022, Fannie sells her one-half (1/2) of the stock of Leona Corporation to her daughter, Winifred. 

How much of the $82,600 Operating Loss is allocated to Fannie?

Answer rating: 100% (QA)

To determine the amount of the operating loss allocated to Fannie w... View the full answer