LO 11.6 8. Bill and Guilda each own 50 percent of the stock of Radiata Corporation, an S corporation.

Guilda’s basis in her stock is $25,000. On July 31, 2010, Bill sells his stock, with a basis of $40,000, to Loraine for $50,000. For the 2010 tax year, Radiata Corporation has a loss of $100,375.

a. Calculate the amount of the corporation’s loss that may be deducted by Bill on his 2010 tax return.

$ ____________

b. Calculate the amount of the corporation’s loss that may be deducted by Guilda on her 2010 tax return.

$ ____________

c. Calculate the amount of the corporation’s loss that may be deducted by Loraine on her 2010 tax return.

$ ____________