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Kaiwan, Inc., a calendar year s corporation, is partly owned by Sharrod, whose beginning stock basis is $37,500. During the year, Sharrod's share of a
Kaiwan, Inc., a calendar year s corporation, is partly owned by Sharrod, whose beginning stock basis is $37,500. During the year, Sharrod's share of a Kaiwan long-term capital gain (LTCG) is $5,625, and his share of an ordinary loss is $22,688. Sharrod then receives a $22,500 cash distribution. If an amount is zero, enter "O". a. How much of the loss may Sharrod currently deduct? $ b. Sharrod's has a suspended loss of $ c. Sharrod's new basis in the Kaiwan stock is $
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