2. Tom is a 50% shareholder in an S-corporation. In 2017, Tom has a basis in his S- corporation stock of $10,000 and no debt basis. In 2017, the S-corporation has a $20,000 ordinary business loss. Tom decides not to take any loss on his 2017 return. In 2018, the company suffers another $20,000 loss. Tom can take the loss he receives from the S-corporation from the 2018 tax year on his 2018 tax return..

TRUE OR FALSE ?