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Craftsman 917.376572 no spark?

The title pretty much says it all. Fuel, fuel supply, air filter all check out. No fuel filter(!?) to clog up, so that's not it.
With a helper pulling the cord and the plug out but connected, I'm not seeing any spark at all. Even grounded to the engine block.
I guess I'm wanting to know what to look for...obviously there's no coil or distributor, so what goes on in there? Magneto? Some kind of reluctor setup?
Sure could use some help here.
Thanks, Jon.
jon, July 2011
Most likely a bad Magneto, but the wire to the kill switch may be shorted out.

Dick, November 2021
link Click here to see other fixes for Craftsman.