DIRECTV NOW 22 6 that was a C corporation several years ago. While Abigail and Abigail, Bobby, and Claudia Bobby actively participate in running the company, Claudia has a separate Information for 2017 are equal owners in Lafter, an S corporation t day job and is a passive owner Consider the following As of January 1,2017, Abigeil Bobby, and Claudia each have a basis in Lafter stock of $15,000 and a debt basis of So. On January 1 the stock basis is also the at-risk amount for each shareholder Bobby 2017. Neither has any other source of passive income (besides Lafter, for Claudia) On March 31, 2017, Abigail lends $5,000 of her own money to Lafter Anticipating the need for basis to deduct a loss, on April 4, 2017, Bobby takes out a $10,000 loan to make a $10,000 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, 2017 Lafter has C corporation earnings and profits of $15.000 as of January 1, 2017 During 2017, Lafter reports a business loss of $75,000, computed as follows and Claudia also are passive owners in Aggressive LLC, which allocated business income of $14,000 to each of them in 5 90,069 Cost of goods sa 85,909) alary to bieail Salary to Bobby Business (Goss) 5 (75, Lafter aso reported $12,000 of tax-exempt interest income Dring 2018. Laher made several changes to its business approach and reported $18,000 of business income. computed as folows Cest of goods sold Salery teAbat Latber also reported a long-serm capital gein of $24.000 in 2018 . Lafter made a cash distribution on July 1, 2018, of $20,000 to each shareholder (Do not round your intermediste caliculations. Round your finsl answer to the nearest whole dollar amount. Leave noe answer nero if applicable -1. What amount of Lohers 2017 business loss of $75.000 are Abigal, Bobby and Claudia allowed to deduct on their Individual tax h-2. what are each owners stock basis and debt besis fif applicable) and each owner's at-cisk amount with respect to the investment b. what amont of gainintonie does each shareholder recognize hon re cash distr but on on/y t 20t Type here to search DIRECTV NOW 22 6 that was a C corporation several years ago. While Abigail and Abigail, Bobby, and Claudia Bobby actively participate in running the company, Claudia has a separate Information for 2017 are equal owners in Lafter, an S corporation t day job and is a passive owner Consider the following As of January 1,2017, Abigeil Bobby, and Claudia each have a basis in Lafter stock of $15,000 and a debt basis of So. On January 1 the stock basis is also the at-risk amount for each shareholder Bobby 2017. Neither has any other source of passive income (besides Lafter, for Claudia) On March 31, 2017, Abigail lends $5,000 of her own money to Lafter Anticipating the need for basis to deduct a loss, on April 4, 2017, Bobby takes out a $10,000 loan to make a $10,000 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, 2017 Lafter has C corporation earnings and profits of $15.000 as of January 1, 2017 During 2017, Lafter reports a business loss of $75,000, computed as follows and Claudia also are passive owners in Aggressive LLC, which allocated business income of $14,000 to each of them in 5 90,069 Cost of goods sa 85,909) alary to bieail Salary to Bobby Business (Goss) 5 (75, Lafter aso reported $12,000 of tax-exempt interest income Dring 2018. Laher made several changes to its business approach and reported $18,000 of business income. computed as folows Cest of goods sold Salery teAbat Latber also reported a long-serm capital gein of $24.000 in 2018 . Lafter made a cash distribution on July 1, 2018, of $20,000 to each shareholder (Do not round your intermediste caliculations. Round your finsl answer to the nearest whole dollar amount. Leave noe answer nero if applicable -1. What amount of Lohers 2017 business loss of $75.000 are Abigal, Bobby and Claudia allowed to deduct on their Individual tax h-2. what are each owners stock basis and debt besis fif applicable) and each owner's at-cisk amount with respect to the investment b. what amont of gainintonie does each shareholder recognize hon re cash distr but on on/y t 20t Type here to search