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Jonathan's Basis in His S Corporation Stock Is $4,000 at the End

Question 1

Multiple Choice

Jonathan's basis in his S corporation stock is $4,000 at the end of the year before the corporation reports his $1,500 share of income and distributes $2,500 cash to him.What is his basis at the beginning of the following tax year?


A) 0
B) $2,500
C) $3,000
D) $4,000

Correct Answer:

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