1D. On 1-1-X1, Mt. Vear purchased 50 percent of S Corporatlon Z's only class of stock outstanding for $100,000. On 12-1-X1, he purchased the other 50 percent of its stock. For 20XI, Z Corporatlon had a net operating loss of $255,500. How much of the loss can Mr. Vear deduct on his Individual Income tax return.for 20xI? . $138,600 b. $200,000 c. $234,208 d. $255,500 11. Income from an S corporation Is taxed at a. the shareholder level b the corporate level. c both the shareholder level and the corporate level. d. None of the above 2. Advantages of an S corporation Incdlude a Ilmlted llablity b. single level of taxation. c not subject to the personal holding company tax d. All of the above e. None of the above 13. Which of the following is not a requirement of a "small business corporation? a. It must be a domestie corporation. b. It can never have more than 100 shareholders c. It must use the reserve method of accounting d. It can only have one class of stock