(8) On January 1, Bobby and Alice own equally all of the stock of an...
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(8) On January 1, Bobby and Alice own equally all of the stock of an electing S corporation called Prairie Dirt Delight. The dirt company has a $60,000 loss for a non-leap year. On the 200th day of the year (not a leap year), Bobby sells one-half of his 50% stock interest to his son, Saul, retaining a 25% interest. How much of the $60,000 loss, if any, is allocated to Bobby? a. $6,781 b. $13,562 c. $16,438 d. $23,219
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