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
C) $6,000
$30,000 × 0.50 × (146/365) = $6,000
You might also like to view...
In Ransom v. FIA Card Services, Ransom filed for Chapter 13 bankruptcy protection and listed among his living expenses the standard amount allowed in the Bankruptcy Code for car ownership costs. Ransom owned his car outright and had no car payment. FIA challenged the car deduction. The court held that Ransom could
A. take the deduction because denying it would send a message to debtors to take out car loans rather than pay them off. B. take the deduction because he met the means test. C. take the deduction because the statutory language was ambiguous. D. not take the deduction because it was limited to debtors who were required to make loan or lease payments on a car.
?For data skewed to the left, the skewness is
A. ?less than .5. B. ?less than 1. C. ?less than the mean. D. ?negative.
Sara is retiring next month. In addition to all the planning for her retirement party, the company has published an in-house advertisement for anyone who wants to apply for her job. This recruitment method is known as ______.
A. open recruitment B. targeted recruitment C. closed recruitment D. employee referrals
Public relations practitioners define a public as a ________
A) key audience segment in an advertising campaign B) group of people who shop for products based on brand recognition C) media organization responsible for distributing messages D) group that affect an organization and is affected by the organization's activities E) measurement of audience response to a promotional message