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QUESTION
A calendar-year S corporation has a $36,500 operating loss for 20X1. At the beginning of 20X1, S corporation had two equal shareholders: A and B.
A calendar-year S corporation has a $36,500 operating loss for 20X1. At the beginning of 20X1, S corporation had two equal shareholders: A and B. On May 31, 20X1, A sells his shares of stock in the S corporation. How much of the $36,500 loss is allocable to A?
