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problem 9(want text answer only). Chris is the 100% shareholder of the Denture Corporation, an corporation, and has a basis of $10,000 in the stock
problem 9(want text answer only). Chris is the 100% shareholder of the Denture Corporation, an corporation, and has a basis of $10,000 in the stock as of January 1, 2019. Chris also made a $15,000 loan to Denture Corporation as of January 1, 2019. During 2019, Denture Corporation had a $5,000 capital gain, made a $2,000 cash distribution to Chris, and incurred a $20,000 ordinary taxable loss. a) What is Chris' stock basis at the end of 2019? b) What is his loan basis at the end of 2019
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