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If two partners each contributed $90000 in exchange of 50% interest in the company in 2020. Basis in flow through ownership interest on January 2021
If two partners each contributed $90000 in exchange of 50% interest in the company in 2020. Basis in flow through ownership interest on January 2021 is $80000. Each investor holds 50 ownership units of the company. Each contributed additional equity of $45,000 on October 31, 2021. No additional shares were issued. One personally loaned the company $40,000 during 2021. The company has an outstanding loan of $200,000 from a local bank. Both owners personally guaranteed the loan. On December 31, 2021, TCP made a cash distribution of $5,000 to each investor to pay income taxes on their flow-through income. Find : C corporation stock. S corporation stock LLC 1- What the original investment 2- Ending Basis
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