On January 1, Bobby and Alice Own Equally All of the Stock

question 13

Multiple Choice

On January 1, Bobby and Alice own equally all of the stock of an electing S corporation called Prairie Dirt Delight. The entity incurs a $60,000 loss for a non-leap year. On the 200th day of the year (not a leap year) , Bobby sells his one-half of the stock to his son, Saul. How much of the $60,000 loss, if any, is allocated to Bobby?

• A) $0
• B) $13,562
• C) $16,438
• D) $32,877

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