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Kaiwan, Inc., a calendar years corporation, is partly owned by Sharrod, whose beginning stock basis is $147,500. During the year, Sharrod's share of a Kaiwan
Kaiwan, Inc., a calendar years corporation, is partly owned by Sharrod, whose beginning stock basis is $147,500. During the year, Sharrod's share of a Kaiwan long-term capital gain (LTCG) is $22,125, and his share of an ordinary loss is $89,238. Sharrod then receives a $88,500 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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