What is gerards basis in stock at the end of the year

Reference no: EM13197395

Gerard, the sole shareholder in X Corporation, has a basis in his stock of $18,000 at the beginning of the year. The corporation has taxable income of $9,000 for the year. In addition, the corporation has a short term capital loss of $1,200 and tax exempt income of $800. What is Gerard's basis in his stock at the end of the year.

Reference no: EM13197395

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