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On January 1, 2021, Leo paid $22,400 for 5 percent of the stock in BLS, an S corporation. In November, he loaned $11,300 to BLS
On January 1, 2021, Leo paid $22,400 for 5 percent of the stock in BLS, an S corporation. In November, he loaned $11,300 to BLS in return for a promissory note. BLS generated a $744,000 operating loss in 2021
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