At the beginning of year Ann and becky own equally all of stock of Whitman , Inc and S corporation .Whitman generates 120000$ loss for the year ( not a leap year). On 300 day of the year .Ann sells her half of the Whitman stock to her son,Scott .How much of 120,000 loss belongs to Ann and Scott?
1.Scott loss:
Assume the same facts in problem 3 .How much Whitman loss belongs to Ann and becky . BECKYs stock basis 50000.
2.Ann"s loss
Becky"s loss