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Kaiwan, Inc. a calendar year S corporation is partly owned by Sharrod, whose beginning stock basis is $32,000 . During the year, Sharrods share of
Kaiwan, Inc. a calendar year S corporation is partly owned by Sharrod, whose beginning stock basis is $32,000 . During the year, Sharrods share of a Kaiwan long term capital gain is $5,000, and his share of an ordinary loss is $18,000. Sharrod then receives a $20,000 cash distribution. Compute Sharrod's deductible loss.
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