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Exercise 22-18 (Algorithmic) (LO, 6) Noelle, the owner of all of the shares of ClockCo, an S corporation, transfers her stock, to Grayson on Aprit

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Exercise 22-18 (Algorithmic) (LO, 6) Noelle, the owner of all of the shares of ClockCo, an S corporation, transfers her stock, to Grayson on Aprit 1. ClockCo reports a $204,000 NOL for the entire tax year, but only $30,600 of the loss occurs during January-March. Assume 365 days in a year. Round per day computations to five decimal places. Round final answers to the nearest dollar. Without a short-year election, how much of the loss is allocated to Noelle and how much is allocated to Grayson? Noelle's loss allocation: $ Grayson's loss allocation: 5 If the corporation makes the short-year election, how much of the loss is allocated to Grayson? Exercise 22-18 (Algorithmic) (LO, 6) Noelle, the owner of all of the shares of ClockCo, an S corporation, transfers her stock, to Grayson on Aprit 1. ClockCo reports a $204,000 NOL for the entire tax year, but only $30,600 of the loss occurs during January-March. Assume 365 days in a year. Round per day computations to five decimal places. Round final answers to the nearest dollar. Without a short-year election, how much of the loss is allocated to Noelle and how much is allocated to Grayson? Noelle's loss allocation: $ Grayson's loss allocation: 5 If the corporation makes the short-year election, how much of the loss is allocated to Grayson

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