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A shareholder owns 50% of an S corporation's stock for the entire year. The shareholder's stock basis is $15,000. The S corporation's ordinary loss for
A shareholder owns 50% of an S corporation's stock for the entire year. The shareholder's stock basis is $15,000. The S corporation's ordinary loss for the year was $18,000. Also, it made cash distributions of $20,000. The shareholder would report what amount of income (loss) with respect to the shares owned in the S corporation?
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