Agustina, Bobby, and Claudia are equal owners in Lafter, an S corporation that was a C corporation several years ago. While Agustina and Bobby actively participate in running the company. Claudia has a separate day job and is a passive owner Consider the following information for 2022 - As of January 1, 2022, Agustina, Bobby, and Claudia each has a basis in Lafter stock of $15,000 and a debt basis of $0. On January 1, the stock basis is also the at-risk amount for each shareholder. - Bobby and Claudia also are passive owners in Aggressive LLC, which allocated business income of $14,000 to each of them in 2022 Neither has any other source of passive income (besides Lafter, for Claudia). - On March 31, 2022. Agustina lends $5,000 of her own money to Laftet. - Anticipating the need for basis to deduct a loss, on April 4, 2022, Bobby takes out a $10,000 loan to make a $10,000 capital contribution to Lafter Bobby uses his automobile (\$12,000 fair market value) as the sole collateral for his loan (nonrecourse) - Lafter has an accumulated adjustments account balance of $45,000 as of January 1,2022 - Lafter has C corporation earnings and profits of $15,000 as of January 1,2022. - During 2022, Lafter reports a business loss of $75,000, computed as follows: - Lafter also reported $12.000 of tax-exempt interest income. - During 2023, Latter made several changes to its business approach and reported $18,000 of business income, computed as follows: - Latter also reported a long-term capital gain of $24,000 in 2023 - Lafter made a cash distribution on July 1,2023, or $20,000 to each shareholder Note: For all requirements, do not round your intermediate calculations. Round your final answer to the nearest whole dollar amount. Leave no answers blonk, Enter zero if applicable. - Lafter also reported $12,000 of tax-exempt interest income. - During 2023, Lafter made several changes to its business approach and reported $18,000 of business income, computed as. follows - Lafter also reported a long-term capital gain of $24,000 in 2023 - Lafter made a cash distribution on July 1,2023, of $20,000 to each sharcholder Note: For all requirements, do not round your intermediote colculations. Round your final answer to the neorest whole dollar amount. Leave no answers blank. Enter zero if applicable. Required: Q.1. What amount of Lafter's 2022 business loss of $75,000 are Agustha, Bobby, and Claudia allowed to deduct on their indiviual tax returns? 0.2. What are each owner's stock basis and debt basis (if applicable) and each owner's at-risk amount with respect to the imvestment in Lafter at the end of 2022 ? b. What amount of gain/income does each shareholder recognize from the cash distribution on July 1,2023? Agustina, Bobby, and Claudia are equal owners in Lafter, an S corporation that was a C corporation several years ago. While Agustina and Bobby actively participate in running the company. Claudia has a separate day job and is a passive owner Consider the following information for 2022 - As of January 1, 2022, Agustina, Bobby, and Claudia each has a basis in Lafter stock of $15,000 and a debt basis of $0. On January 1, the stock basis is also the at-risk amount for each shareholder. - Bobby and Claudia also are passive owners in Aggressive LLC, which allocated business income of $14,000 to each of them in 2022 Neither has any other source of passive income (besides Lafter, for Claudia). - On March 31, 2022. Agustina lends $5,000 of her own money to Laftet. - Anticipating the need for basis to deduct a loss, on April 4, 2022, Bobby takes out a $10,000 loan to make a $10,000 capital contribution to Lafter Bobby uses his automobile (\$12,000 fair market value) as the sole collateral for his loan (nonrecourse) - Lafter has an accumulated adjustments account balance of $45,000 as of January 1,2022 - Lafter has C corporation earnings and profits of $15,000 as of January 1,2022. - During 2022, Lafter reports a business loss of $75,000, computed as follows: - Lafter also reported $12.000 of tax-exempt interest income. - During 2023, Latter made several changes to its business approach and reported $18,000 of business income, computed as follows: - Latter also reported a long-term capital gain of $24,000 in 2023 - Lafter made a cash distribution on July 1,2023, or $20,000 to each shareholder Note: For all requirements, do not round your intermediate calculations. Round your final answer to the nearest whole dollar amount. Leave no answers blonk, Enter zero if applicable. - Lafter also reported $12,000 of tax-exempt interest income. - During 2023, Lafter made several changes to its business approach and reported $18,000 of business income, computed as. follows - Lafter also reported a long-term capital gain of $24,000 in 2023 - Lafter made a cash distribution on July 1,2023, of $20,000 to each sharcholder Note: For all requirements, do not round your intermediote colculations. Round your final answer to the neorest whole dollar amount. Leave no answers blank. Enter zero if applicable. Required: Q.1. What amount of Lafter's 2022 business loss of $75,000 are Agustha, Bobby, and Claudia allowed to deduct on their indiviual tax returns? 0.2. What are each owner's stock basis and debt basis (if applicable) and each owner's at-risk amount with respect to the imvestment in Lafter at the end of 2022 ? b. What amount of gain/income does each shareholder recognize from the cash distribution on July 1,2023