Oscar Myer has S corporation stock with an adjusted basis of $5,000 and he has a $4,000 loan to the corporation that was still outstanding. His pro rata share of business income for the year is $1,000, and his pro rata share of the corporation's separately stated items of loss and deduction is $6,000. At the end of the year the corporation distributed $6,000 to Oscar. 2. How much of the $6,000 of separately stated items of loss and deduction may Oscar deduct and what is his stock and debt basis at the end of the year? If the business has $5,000 in income next year, what is his stock and debt basis at the end of the year? a. b