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Prepare the shareholder ending stock basis

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Question - 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: EM131779282

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