Solution-What should be lindas basis in the s corporation

What should be lindas basis in the s corporation stock

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Reference no: EM132326414

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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?

Reference no: EM132326414

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What should be lindas basis in the s corporation stock

Reference no: EM132326414

Reference no: EM132326414

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