S Corporations Exam Question 33 of 50 Select the best answer. Missy Corp. termin

Question

S Corporations Exam Question 33 of 50 Select the best answer. Missy Corp. terminates its S corporation status on August 1, 2014, Clara, the 100% shareholder, has a suspended loss of $200,000, which she cannot suspended loss to pass through to her. How can she establish basis? use due to lack of basis. Clara has one year to establish basis to allow the O A. If she buys $100,000 of additional stock O B. If she contributes $100,000 in the form of wages for services rendered O C. If she personally loans $100,000 to Missy Corp. O D. If the S corporation borrows $100,000 Submit Answers Exit & Resume Late 2% Complete Exam, Question Q 33

Explanation / Answer

for the above question answer is

B) If she contributes $100,000 in the form of wages for services rendered

because clara has one year basis to allow the suspended loss to pass.

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