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What should simon report

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Question - Simon owns 50% of the stock of Cargill Corporation, a calendar year taxpayer that has elected Subchapter S status. As of January 1, 2010, Simon's basis in the stock is $40,000. Cargill has an operating loss of $100,000 for 2010 and taxable income of $60,000 for 2011.

What should Simon report for 2010?

Reference no: EM131824740

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