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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.
mac company engaged in the following transactions for the month of novembernovember 4 received a 6000 retainer from
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