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You are a 6 0 % owner of an S corporation. Calculate your ending stock basis based upon these facts. Beginning stock basis $ 5

You are a 60% owner of an S corporation. Calculate your ending stock basis based upon these facts.
Beginning stock basis $52,600
Purchases of additional stock 15,000
Insurance premiums paid (nondeductible)3,600
Tax-exempt interest income 5,230
Payroll tax penalty 3,770
Increase in AAA 22,400
Increase in OAA 5,800

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