On January 1, Year 1 Carrot, an individual, paid $17,600 for 5 percent of the stock in Root Corp , an S corporation In November, he loaned $12,100 to Root Corp In return for a promissory note Root Corp generated a $980,000 operating loss in Year 1 Required a How much of his share of the loss can Carrot deduct on his Year 1 return b Compute Carrot's basis in his Root Corp stock and his Root Corp note at the end of Year 1 Complete this question by entering your answers in the tabs below Required A Required B How much of his share of the loss can Carrot deduct on his Year 1 return Deduction Roquired Required B On January 1, Year 1, Carrot, an individual, paid $17,600 for 5 percent of the stock in Root Corp, an S corporation In November, he loaned $12,100 to Root Corp in return for a promissory note Root Corp generated a $980,000 operating loss in Year 1 Required a How much of his share of the loss can Carrot deduct on his Year 1 return b Compute Carrot's basis in his Root Corp stock and his Root Corp note at the end of Year 1 Complete this question by entering your answers in the tabs below Required A Required B Compute Carrot's basis in his Root Corp stock and his Root Corp note at the end of Year 1 Root Stock Root Note Adjusted basis 0

Question

On January 1, Year 1  Carrot, an individual, paid $17,600 for 5 percent of the stock in Root Corp , an S corporation  In November, he loaned $12,100 to Root Corp  In return for a promissory note  Root Corp  generated a $980,000 operating loss in Year 1  Required  a  How much of his share of the loss can Carrot deduct on his Year 1 return  b  Compute Carrot's basis in his Root Corp  stock and his Root Corp  note at the end of Year 1  Complete this question by entering your answers in the tabs below  Required A Required B How much of his share of the loss can Carrot deduct on his Year 1 return  Deduction Roquired Required B   On January 1, Year 1, Carrot, an individual, paid $17,600 for 5 percent of the stock in Root Corp, an S corporation  In November, he loaned $12,100 to Root Corp  in return for a promissory note  Root Corp  generated a $980,000 operating loss in Year 1  Required  a  How much of his share of the loss can Carrot deduct on his Year 1 return  b  Compute Carrot's basis in his Root Corp  stock and his Root Corp  note at the end of Year 1  Complete this question by entering your answers in the tabs below  Required A Required B Compute Carrot's basis in his Root Corp  stock and his Root Corp  note at the end of Year 1  Root Stock Root Note Adjusted basis 0

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On January 1, Year 1. Carrot, an individual, paid $17,600 for 5 percent of the stock in Root Corp., an S corporation. In November, he

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