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Question - Linda owns 30% of the stock in an S corporation. Linda's basis in the S corporation stock at December 31, 2017 was $14,000. Income reported by the S corporation during 2018 was $80,000. Linda received a distribution of $20,000 during the year. What should be Linda's basis in the S corporation stock at December 31, 2018?
a. $94,000
b. $18,000
c. $6,000
d. $74,000
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