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On January 1 , Bobby and Alice equally own all of the stock of an electing S corporation called BA Delight. The entity incurs a
On January Bobby and Alice equally own all of the stock of an electing S corporation called BA Delight. The entity incurs a $ loss for a nonleap year. On the th day of the year not a leap year Bobby sells his onehalf of the stock to his son, Saul. How is the $ loss allocated?
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