The stock in mockingbird, 59. Ida owns 30% of the stock

The stock in mockingbird

Reference no: EM13265105

59. Ida owns 30% of the stock in Mockingbird, a calendar year S corporation. Her basis in the stock as of January 1, 2013, is $120,000. Mockingbird has an operating loss of $500,000 in 2013 and an operating profit of $600,000 in 2014. Ida withdraws $70,000 in cash from the corporation in 2014.

Reference no: EM13265105

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The stock in mockingbird : 59. Ida owns 30% of the stock in Mockingbird, a calendar year S corporation. Her basis in the stock as of January 1, 2013, is $120,000. Mockingbird has an operating loss of $500,000 in 2013 and an operating profit of $600,000 in 2014. Ida ..

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