Question
Maddie is a shareholder in Doggie DayCare, Inc. an S Corporation. Her initial investment was $1,000. Since inception, Doggie DayCare has passed thru income of
Maddie is a shareholder in Doggie DayCare, Inc. an S Corporation. Her initial investment was $1,000. Since inception, Doggie DayCare has "passed thru" income of $65,000 to Maddie, made distributions of $50,000, and had ordinary losses from the sale of kennels of $5,000. To purchase new equipment, Maddie guaranteed a loan of $30K from PupGo Bank to Doggie DayCare, Inc. What is her basis?
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Managing Organizational Risk Using The Supplier Audit Program An Auditors Guide Along The International Audit Trail
Authors: Lance B. Coleman Sr.
1st Edition
0873899687, 978-0873899680
