Operating loss - (30000)
short-term capital gain - 37500
long-term capital loss- (6000)
Nondeductible fess and penalties ( 3000)
The electing corporation distributes $5000 of cash to each of the shareholders during the tax year. Calculate the shareholders' stock bases at the end of the year.
This question was asked on Feb 29, 2012 and answered on Mar 03, 2012.
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