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Calculate bass stock basis at year-end

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Reference no: EM132035472

Question - Tom Bass is a 55% owner of a calendar year S corporation during 2014. His beginning stock basis is $250,000, and the S corporation reports the following items.

Ordinary income $82,000

Short-term capital gain 26,000

§ 1231 loss 8,000

Tax-exempt interest income 10,000

Calculate Bass's stock basis at year-end.

Reference no: EM132035472

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