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Loss allocation

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Reference no: EM13342448

Loss Allocation (LO. 6, 9)
At the beginning of the year, Ann and Becky own equally all of the stock of Whitman, Inc., an S corporation. Whitman generates a $120,000 loss for the year (not a leap year). On the 189th day of the year, Ann sells her half of the Whitman stock to her son, Scott. What is the loss allocated to Scott ? (In your computations, round any fractions to four decimal places. Then round the final answer to the nearest dollar.)

Reference no: EM13342448

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