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Terra Corp., an S corporation with only one shareholder, has income of 45,000 this year, but makes no distributions. As a result, Harry, Terra's sole
Terra Corp., an S corporation with only one shareholder, has income of 45,000 this year, but makes no distributions. As a result, Harry, Terra's sole shareholder whose adjusted basis in his stock at the beginning of the year was 100,000, will have an adjusted basis at year end of: Zero income or loss 45,000 145,000 119,000
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