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Ray owns 40% of the stock in Fava Corporation, an S corporation. His basis in the stock is $125,000 prior to the following items. During
Ray owns 40% of the stock in Fava Corporation, an S corporation. His basis in the stock is $125,000 prior to the following items. During the year, Ray loans the company $50,000 and the company incurs an ordinary loss of $500,000.
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Share of Loss and Basis Limitations in S Corporations Ray as a 40 shareholder in Fava Corporation an ...
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Federal Taxation 2021 Corporations, Partnerships, Estates & Trusts
Authors: Timothy J. Rupert, Kenneth E. Anderson, David S. Hulse
34th Edition
0135919460, 978-0135919460
