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What are the Federal income tax aspects to consider

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Reference no: EM132648586

Problem - Maple, Inc., is an S corporation with a single shareholder, Bob Maple. Bob believes that his stock basis in the entity is $50,000, but he has lost some of the records to substantiate this amount. Maple reports an ordinary loss for the year of $80,000. What are the Federal income tax aspects to consider?

Reference no: EM132648586

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