QUESTION 1 Sam, is the sole shareholder of Acme's Corp, which has been an Scorporation since inception. This year Acme has a loss of 75,000. Sam's adjusted basis in his stock before any effects from the loss was 550,000. As a result Sam's personal tax return will include a 575.000 loss $50,000 loss $25,000 loss Zero loss None of the above QUESTION 2 Contributions may be made to an IRA on behalf of a non-working spouse True False QUESTION 3 In order for an increase in the value of property to affect your tax liability there must be: A disposition of the asset A holding period in excess of one year An involuntary conversion All of the above None of the above Click Save and Submit to one and sharit. Click Save All Amers to see all answers Save All Answers