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Jay is the sole shareholder of James, Inc., an S corporation. In 20X1, the S corporation has taxable income of $40,000. Jay's share basis as
Jay is the sole shareholder of James, Inc., an S corporation. In 20X1, the S corporation has taxable income of $40,000. Jay's share basis as of January 1, 20X1 is $10,000. What is Jay's share basis as of December 31, 20X1 ?
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Jays share basis at the end of the year depends on various items of income deductions and distributi...
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Canadian Income Taxation Planning And Decision Making
Authors: Joan Kitunen, William Buckwold
17th Edition 2014-2015 Version
1259094332, 978-1259094330
