3. a Michael Moore owns stock in an S corporation. The corporation sustained a net operating loss during the year. Michael's share of the loss is $6,000. His adjusted basis in the stock is $1,000. In addition, he has a loan outstanding to the corporation in the amount of $4,000. What amount, if any, is Michael entitled to deduct with respect to the loss? 1 B Same as above except loan of S4000 is from outsiders