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Posted on Aug 13, 2024

On January 1 , 2 0 2 1 , Leo paid $ 1 5 , 0 0 0 for 5 % of the stock in

On January

1, 2021,

Leo paid $

15, 000

for

5 %

of the stock in BLS

,

an S Corporation. In November, he loaned

8, 000

to BLS in return for a promissory note. BLS generated a $

600, 000

operating loss in

2021

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