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Business, 24.06.2019 20:30 tantoine2704

Bobby owns 50% of jingles, inc., an s corporation filing tax returns on a calendar year. for tax year 2017, the corporation has an operating loss of $15,000 and separately stated tax-exempt income of $10,000. bobby individually loans the corporation $4,000. his basis on january 1, 2017, is $2,000. what is his basis in the stock at year end 2017?

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Bobby owns 50% of jingles, inc., an s corporation filing tax returns on a calendar year. for tax yea...
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