Kaiwan, Inc., a calendar years corporation, is partly owned by Sharrod, whose beginning stock basis is $75,000. During the year, Sharrod's share of a Kaiwan long-term capital gain (LTCG) is $11,250, and his share of an ordinary loss is $45,375. Sharrod then receives a $45,000 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 $ Vogel, Inc., an S corporation for five years, distributes a tract of land held as an investment to Jamari, its majority shareholder. The land was purchased for $78,600 ten years ago and is currently worth $196,500. If an amount is zero, enter, "0". a. As a result of the distribution, what is Vogel's recognized capital gain? How much is reported as a distribution to shareholders? Vogel recognizes which is reported on Schedule K, and 1. Jamari would of $ basis in the land. take a $ b. What is the net effect of the distribution on Vogel's AAA? There is a net of on Vogel's AAA. C. Assume instead that the land had been purchased for $196,500 and was currently worth $78,600. How much would Vogel recognize as a loss? What would be the net effect on Vogel's AAA? What would be Jamari's basis in the land? Vogel recognizes a loss $ and the net effect on Vogel's AAA is of $ Jamari would take a $ basis in the land