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Mark Davenport owns 40% of Davenport Corporation, a calendar year-end S corporation. His beginning basis in his stock is $33,000 and his Schedule K-1 reflected

Mark Davenport owns 40% of Davenport Corporation, a calendar year-end S corporation. His beginning basis in his stock is $33,000 and his Schedule K-1 reflected the following items for the current year:

Ordinary business loss $25,000
Dividend income $ 4,000
Section 1231 gain $ 6,000
Distributions $20,000

What is Mark's ending basis in his stock for the current year in Davenport Corporation? How much of Mark's loss is deductible?

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