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CCC Corporation Is an S corporation with two shareholders: Tim (70%) and James (30%). At the beginning of the year, Tim's basis of stock was
CCC Corporation Is an S corporation with two shareholders: Tim (70%) and James (30%). At the beginning of the year, Tim's basis of stock was $1,200. During the year, the corporation reported $19,714.29 of taxable income and Made no distributions. What is Tim's basis in the stock at the end of the year?
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South Western Federal Taxation 2017 Essentials Of Taxation Individuals And Business Entities
Authors: William A. Raabe, David M. Maloney, James C. Young, Annette Nellen
20th Edition
978-0357109144, 978-0357686652, 978-1305874824
