Question
Yelena is a 45% owner of a calendar year S corporation name Easy Corporation during 2013. Her beginning stock basis is $230,000, and Easy corporation
Yelena is a 45% owner of a calendar year S corporation name "Easy Corporation" during 2013. Her beginning stock basis is $230,000, and Easy corporation reports the following items.
| Ordinary income | $72,000 |
| Short-term capital gain | 16,000 |
| 1231 loss | 6,000 |
| Tax-exempt interest income | 5,000 |
Please calculate Yelena's stock basis at year-end.
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Financial Accounting And Reporting
Authors: Barry Elliott, Jamie Elliott
3rd Edition
0139488944, 978-0139488948
