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Question - At the beginning of 2012, Lindsey Cartwell had a -0- basis in her 43 shares of stock in Blackstone, an S corporation. Originally, Lindsey had paid $53 per share. In an earlier year, Lindsey loaned Blackstone $5,000, but by the beginning of 2012, Lindsey's basis in the note was -0-. Lindsey also has an $8,000 ordinary loss carryforward from Blackstone that she has not been able to deduct because of the basis limitation. By the end of 2012, Lindsey was notified that Blackstone was bankrupt and would be defaulting on its debt to her. Lindsey's 43 shares in Blackstone are worthless. Lindsey wants to know how much she can deduct on her 2012 return.
reasonable accommodations are legislated under the
At December 31, 2008 Quiggin had 400,000 shares of common stock outstanding, How do I compute earnings per share and diluted earnings per share
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Suppose the information below is from the 2017 financial statements and accompanying notes of The Scotts Company, a major manufacturer of lawn-care products.
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