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A calendar year S corporation had dividend income of $ 1 0 , 0 0 0 and a net ordinary loss of $ 7 0
A calendar year S corporation had dividend income of $ and a net ordinary loss of $ for the current year. At the beginning of the year, Z a percent shareholder, has a stock basis of $ and a note basis on a loan Z made to the corporation of $ Z also personally guaranteed payment of a $ loan that the corporation took out. Zs only other income is a substantial salary from an unrelated business. Z materially participates in the S corporation business. He also received a cash distribution of $ from the S corporation during the current year.
What is Zs stock basis and loan basis at the end of the current year? Show work for partial credit.
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