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See guide for # 3 # 8 which appears after 7 1 1 . The guide shows in chronological order what is happering in these
See guide for # # which appears after The guide shows in chronological order what is happering in these problems. INADDITION. TRACK MARYS BASIS IN STOCKILDANS FOR EACH YEAR.
Mary manages S Corp and owns of the stock. On January Mary's basis in the stock is $ For the year Copp had a loss of $ How will Mary treat her share of the loss on her income tax return?
Refer to question above. In Corporation had income of $ How will Mary treat her share of the income on her income tax return.
Refer to question above. Assume Mary had also loaned the S Corp $ on January The loan is evidenced by a note. Given the facts in question how will Mary treat her share of the loss on her income tax return?
Refer to question above. On January the $ Corp repays the $ loan to Mary. S Corp "breaks even" in no income or loss What must Mary report on her income tax return, if anything?
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