What is vera tax basis in her columbus shares

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Question - Vera is a shareholder in Columbus Corporation, an S corporation. At the beginning of the current year, Vera's tax basis in her Columbus shares was $25,000. Vera's Schedule K-1 this year reflected the following items:

Ordinary business income $39,000

Long-term capital loss 4,000

Charitable contributions 1,000

Nondeductible expenses 2,000

Cash distribution 29,000

Required - What is Vera's tax basis in her Columbus shares at the end of the current year?

a. $25,000

b. $28,000

c. $30,000

d. $34,000

Reference no: EM133076738

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