************PLEASE HELP WITH REMAINING BLANK BOXES**************

************PLEASE HELP WITH REMAINING BLANK BOXES**************

************PLEASE HELP WITH REMAINING BLANK BOXES**************

************PLEASE HELP WITH REMAINING BLANK BOXES**************

************PLEASE HELP WITH REMAINING BLANK BOXES**************

Agustina, Bobby, and Claudia are equal owners in Lafter, an S corporation that was a C corporation several years ago. While Agustina and Bobby actively participate in running the company, Claudia has a separate day job and is a passive owner. Consider the following information for 2023: - As of January 1, 2023, Agustina, Bobby, and Claudia each has a basis in Lafter stock of $15,000 and a debt basis of $0. On January 1 , the stock basis is also the at-risk amount for each shareholder. - Bobby and Claudia also are passive owners in Aggressive LLC, which allocated business income of $14,000 to each of them in 2023. Neither has any other source of passive income (besides Lafter, for Claudia). - On March 31, 2023, Agustina lends $5,000 of her own money to Lafter. - Anticipating the need for basis to deduct a loss, on April 4, 2023, Bobby takes out a $10,000 loan to make a $10,000 capital contribution to Lafter. Bobby uses his automobile ($12,000 fair market value) as the sole collateral for his loan (nonrecourse). - Lafter has an accumulated adjustments account balance of $45,000 as of January 1, 2023. - Lafter has C corporation earnings and profits of $15,000 as of January 1, 2023. - During 2023, Lafter reports a business loss of $75,000, computed as follows: - Lafter also reported $12,000 of tax-exempt interest income. - During 2024, Lafter made several changes to its business approach and reported $18,000 of business income, computed as follows: - Lafter also reported a long-term capital gain of $24,000 in 2024. - Lafter made a cash distribution on July 1,2024 , of $20,000 to each shareholder. Answer is not complete. \begin{tabular}{|c|c|c|c|} \hline & Agustina & Bobby & Claudia \\ \hline \multicolumn{4}{|l|}{ a1. Deductible amount } \\ \hline a2. Stock basis & 00 & 4,000 & 00 \\ \hline a2. Debt basis & 00 & 00 & 00 \\ \hline a2. At-risk amount & 00 & 02 & 00 \\ \hline \multicolumn{4}{|l|}{ b. Dividend income } \\ \hline \begin{tabular}{l} b. Long-term capital \\ gain \end{tabular} & & & \\ \hline \end{tabular}