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III. (5 Points) Cody is a 25% owner of a calendar year ESPN S corporation during 2020. His beginning stock basis is $200,000, and the
III. (5 Points) Cody is a 25% owner of a calendar year ESPN S corporation during 2020. His beginning stock basis is $200,000, and the corporation reports the following items: Ordinary income Life insurance premiums on officer Section 1245 recapture income $1231 loss Tax-exempt interest income $80,000 16,000 10,000 6,000 5,000 A. Calculate Cody' stock basis at year-end. ABC
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