Louise Is the Marketing Manager and a 30% Owner of Walker

Essay

Louise is the marketing manager and a 30% owner of Walker Company. At the beginning of the current year, Louise's basis in Walker Company is $22,000. During the year, Walker borrows $50,000 to finance the construction of a new building. For the year, Walker suffers a $100,000 net operating loss and distributes $60,000 in cash to its owners. Determine Louise's deductible loss if Walker is organized as
a.A partnership
b.A corporation
c.An S corporation