Facts about one-shareholder corporation

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Reference no: EM13143600

You are given the following facts about a one-shareholder S corporation, and you are asked to prepare the shareholder's ending stock basis.

Ordinary income $100,000
Payroll tax penalty 2,140
Stock purchases 32,000
Tax-exempt insurance proceeds 50,000
Insurance premiums paid (nondeductible) 2,700
Beginning stock basis 36,800

a. $163,960.

b. $181,960.

c. $213,960.

d. $216,100.

Reference no: EM13143600

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