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

question 10

Multiple Choice

On January 1, Bobby and Alice own equally all of the stock of an electing S corporation called Prairie Dirt Delight. The dirt company has a $60,000 loss for a non-leap year. On the 200th day of the 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.
• E) None of the above.

---

Definitions:

Mislead

To provide false or misleading information intentionally or unintentionally, causing someone to have an incorrect understanding or belief.

Grants

Financial aid provided by an entity (often a government or foundation) to an individual or organization for a specific purpose without the expectation of repayment.

Audience Oriented

Tailored or adapted to the interests, level of understanding, or preferences of the intended audience.

Preferred Travel Dates

Specific dates chosen by travelers for departure and return, according to their convenience or schedule.