Darlene, a 30% shareholder in a calendar year S corporation, sells her stock on June 6, 2020.If the corporation has an operating loss for 2020, none of this loss can be claimed by Darlene because she was not a shareholder as of December 31, 2020.

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Darlene can claim her share of the S corporation's losses up to the date of her stock sale, as losses and income are allocated based on the portion of the year she was a shareholder.

Darlene, a 30% Shareholder in a Calendar Year S Corporation