An Electing S Corporation Has a $30,000 Ordinary Loss for the Nonleap

question 67

Multiple Choice

An electing S corporation has a $30,000 ordinary loss for the nonleap year. On January 1, Beverly and Sonya own equally all of the S corporation stock. On the 146th day of the year, Beverly gives her one-half of the S corporation stock to her daughter Becky. How much of the $30,000 ordinary loss is allocated to Beverly?

• A)$25,000
• B)$15,000
• C)$6,000
• D)$5,959

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