On January 1, 2021, Leo paid $18,700 for 5 percent of the stock in BLS, an S corporation. in November, he looned $8,750 to BLS in return for a promissory note, BLS generated a $800,000 operating loss in 2021 . Required: a. How much of his share of the loss can Leo deduct on his 2021 return? Assume the excess business loss limitation does not opply. b. Compute Leo's basis in his BLS stock and his BLS note at the end of 2021. Complete this question by entering your answers in the tabs below. How much of his share of the loss can Leo deduct on his 2021 return? Assume the excess business loss limitation does not apply