Chandra was the sole shareholder of pet emporium, which was originally formed as an s corporation. when pet emporium terminated its s election on august 31, 2018, chandra had a stock basis and an at-risk amount of $0. chandra also had a suspended loss from pet emporium of $9,700. what amount of the suspended loss is chandra allowed to deduct, and what is her basis in her pet emporium stock at the end of the post-termination transition period under the following alternative scenarios (assume pet emporium files for an extension to file its tax returns)? (leave no answer blank. enter zero if applicable.) b. chandra makes capital contributions of $5,700 on september 1, 2019, and $5,700 on september 30, 2019.

Apractitioner is engaged to prepare a client's federal income tax return for 2017 and 2018. the practitioner files the 2017 return on the client's behalf and provided copies of the 2017 return and all related documents to the client. after the 2018 return is prepared, the client disputes the fees for the 2018 tax engagement, terminates the relationship, and requests all tax returns and related records. the client has not yet paid for preparation of the 2018 return. under irs circular 230, which records must the practitioner return to the client? a.) notes the practitioner took when meeting with the client about the 2017 and 2018 tax returns. b.) the engagement letter executed by the client for preparation of the 2018 federal income tax return. c.) an appraisal the practitioner prepared in connection with the 2017 federal income tax return. d.) schedules the practitioner prepared, which the client needs to file in its 2018 federal income tax return.