Question 15 5 pts Solo owns 100% of the stock in Cup Corporation, an S Corp....
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Question 15 5 pts Solo owns 100% of the stock in Cup Corporation, an S Corp. Solo's stock basis is $10,000 at the beginning of Year 1. During Year 1, Cup Corporation incurs an ordinary loss of $32,000, and in Year 2 Cup Corporation has $26,000 of income. What income/(loss) will Solo report on his tax return in Year 1? What income/(loss) will Solo report on his tax return in Year 2? Question 15 5 pts Solo owns 100% of the stock in Cup Corporation, an S Corp. Solo's stock basis is $10,000 at the beginning of Year 1. During Year 1, Cup Corporation incurs an ordinary loss of $32,000, and in Year 2 Cup Corporation has $26,000 of income. What income/(loss) will Solo report on his tax return in Year 1? What income/(loss) will Solo report on his tax return in Year 2?
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