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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
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 31,2022 , Chandra had a stock basis and an at-risk amount of $0. Chandra also had a suspended loss from Pet Emporium of \$9,300. 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. Chandra makes capital contributions of $7,450 on August 30,2023 , and $4,360 on September 14, 2023
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