Answer:
As in her worthless note,Sandy has a zero adjusted basis. Her bad debt deduction is Nil according to Section 166 (b).
Section 166(g)(1) states that her capital loss realized on the deemed sale of this stoke is also nil because of zero adjusted basis in her worthless stock.
According to Reg. Sec.1.1366-2(a)(5) if all of her stock is disposed by an S corporation shareholder and loss carryforward attributable to the Section 1366 (d) basis. Limitaitons are permanently disaalowed.
Hence, her $7,400 ordinary loss carryforward can never be deducted by Sandy.
Sandy has no 2012 tax consequences from worthlessness of her Lindlee investments
Answer:
What is meant by parent company?
A parent company is a single company that has a controlling interest in another company or companies. Parent companies are formed when they spin-off or carve out subsidiaries, or through an acquisition or merger.
Explanation:
What Is a Parent Company?
A parent company is a company that has a controlling interest in another company, giving it control of its operations
Answer:
Preparing, reading, capturing key ideas, and reviewing.
Explanation:
