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Required information [The following information applies to the questions displayed below.] Chandra was the sole shareholder of Pet Emporium, which was originally formed as an

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Required information [The following information applies to the questions displayed below.] Chandra was the sole shareholder of Pet Emporium, which was originally formed as an S corporation. When Pet Emporium terminated its S election on August 31, 2021, Chandra had a stock basis and an at-risk amount of $0. Chandra also had a suspended loss from Pet Emporium of $10,900. What amount of the suspended loss is Chandra allowed to deduct, and what is her basis in her Pet Emporium stock, at the end of the post-termination transition period under the following alternative scenarios (assume Pet Emporium files for an extension to file its tax returns)? Note: Leave no answer blank. Enter zero if applicable. b. Chandra makes capital contributions of $6,900 on September 1, 2022, and $6,900 on September 30, 2022. Deductible amount Stock basis

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