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Business, 04.03.2020 04:19 coopera1744

Samantha owned 1,000 shares in Evita, Inc., an S corporation, that uses the calendar year. On October 11, Samantha sells all of her Evita stock. Her stock basis at the beginning of the tax year was $60,000. Evita's ordinary income for the year was $22,000 through the date of sale, and Samantha receives a distribution of $35,000 on May 3rd. Her stock basis at the time of the sale is:.a. $117,000.b. $82,000.c. $60,000.d. $47,000.

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Samantha owned 1,000 shares in Evita, Inc., an S corporation, that uses the calendar year. On Octobe...
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