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An individual owns 50% of an S corporation and is also owed $100,000 by the corporation at the start of the year. The stock basis
An individual owns 50% of an S corporation and is also owed $100,000 by the corporation at the start of the year. The stock basis at the start of the year is $300,000. During the next two years, the corporation has a $100,000 operating loss in one year, followed by a $250,000 operating profit. What are the individual's stock and debt basis at the end of the second year?
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