See guide for 3 8 which appears after 7 1 1 The guide shows in chronological order what is happering in these problems IN ADDITION TRACK MARYS BASIS IN STOCKILDANS FOR EACH YEAR 3 Mary manages S Corp and owns 1 0 0 of the stock On January 1 , 2 0 2 3 Mary's basis in the stock is $ 7 0 , 0 0 0 For the year 2 0 2 3 5 Copp had a loss of $ 1 0 0 , 0 0 0 How will Mary treat her share of the loss on her 2 0 2 3 income tax return 4 Refer to question 3 above In 2 0 2 4 , 5 Corporation had income of $ 4 0 , 0 0 0 How will Mary treat her share of the income on her 2 0 2 4 income tax return 5 Refer to question 3 above Assume Mary had also loaned the S Corp $ 2 0 , 0 0 0 on January 1 , 2 0 2 3 The loan is evidenced by a note Given the facts in question 3 , how will Mary treat her share of the loss on her 2 0 2 3 income tax return 6 Refer to question 5 above On January 1 , 2 0 2 4 the $ Corp repays the $ 2 0 , 0 0 0 loan to Mary S Corp breaks even in 2 0 2 4 ( no income or loss ) What must Mary report on her 2 0 2 4 income tax return, if anything

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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 problems  IN   ADDITION  TRACK MARYS BASIS IN STOCKILDANS FOR EACH YEAR  3   Mary manages S Corp and owns 1 0 0   of the stock  On January 1 , 2 0 2 3   Mary's basis in the stock is $ 7 0 , 0 0 0   For the year 2 0 2 3 5 Copp had a loss of $ 1 0 0 , 0 0 0   How will Mary treat her share of the loss on her 2 0 2 3 income tax return  4   Refer to question 3 above  In 2 0 2 4 , 5 Corporation had income of $ 4 0 , 0 0 0   How will Mary treat her share of the income on her 2 0 2 4 income tax return  5   Refer to question 3 above  Assume Mary had also loaned the S Corp $ 2 0 , 0 0 0 on January 1 , 2 0 2 3   The loan is evidenced by a note  Given the facts in question 3 , how will Mary treat her share of the loss on her 2 0 2 3 income tax return  6   Refer to question 5 above  On January 1 , 2 0 2 4 the $ Corp repays the $ 2 0 , 0 0 0 loan to Mary  S Corp  breaks even  in 2 0 2 4 ( no income or loss )   What must Mary report on her 2 0 2 4 income tax return, if anything

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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

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