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Title: King Corporation, an electing S corporation, is 100% owned by Crystal. On January 1 of the current ... Post by: Mandarini on Feb 15, 2017 King Corporation, an electing S corporation, is 100% owned by Crystal. On January 1 of the current year, her adjusted basis in the King stock is $30,000. During the year, King reports an ordinary loss of $30,000, tax-exempt municipal bond income of $15,000, dividend income from domestic corporations of $5,000, a long-term capital loss of $20,000, and a short-term capital loss of $30,000. What is Crystal's basis for the King stock at the end of the year?
Title: Re: King Corporation, an electing S corporation, is 100% owned by Crystal. On January 1 of the ... Post by: genflynn on Feb 15, 2017 Content hidden
Title: Re: King Corporation, an electing S corporation, is 100% owned by Crystal. On January 1 of the current ... Post by: Mandarini on Jul 15, 2017 Definitely recommend this tutor and website!
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