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Sarah is a 50% shareholder of Skims Inc., an S corporation. Skims has the following tax items this year: Ordinary business income Tax-exempt interest
Sarah is a 50% shareholder of Skims Inc., an S corporation. Skims has the following tax items this year: Ordinary business income Tax-exempt interest income $1,600,000 $10,000 Federal taxes relating to a C Corporation year $82,000 Net long-term capital gains Charitable Contribution Dividend Income AAA, January 1 OAA, January 1 $35,000 $11,000 $13,000 $260,000 $190,000 Sarah's basis in her stock at the beginning of the year was $380,000. What is the balances in the AAA? O $1,460,000 O $2,015,000 O $1,897,000 O $118,000
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