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You are a 60% owner of an S corporation. Calculate your ending stock basis, based upon the following facts: Beginning stock basis $ 42,570 Purchases

You are a 60% owner of an S corporation. Calculate your ending stock basis, based upon the following facts:

Beginning stock basis

$42,570

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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