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At the beginning of the tax year, Lizzie holds a $ 1 0 , 0 0 0 stock basis as the sole shareholder of Spike,

At the beginning of the tax year, Lizzie holds a $10,000 stock basis as the sole shareholder of Spike, Inc., an S corporation. During the year, Spike reports the following:
\table[[Net taxable income from sales,$25,000
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