Gene Grams is a 45% owner of a calendar year S corporation during the tax year. His beginning stock basis is
$230,000, and the S corporation reports the following items. $\begin{array}{lr}
\text { Ordinary income } & \$ 72,000 \
\text { Short-term capital gain } & 16,000 \
\S 1231 \text { loss } & 6,000 \
\text { Tax-exempt interest income } & 5,000
\end{array}$ Calculate Grams's stock basis at year-end.

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The Answer of Gene Grams is a 45% owner of a calendar year S corporation during the tax year. His beginning stock basis is
$230,000, and the S corporation reports the following items. $\begin{array}{lr}
\text { Ordinary income } & \$ 72,000 \
\text { Short-term capital gain } & 16,000 \
\S 1231 \text { loss } & 6,000 \
\text { Tax-exempt interest income } & 5,000
\end{array}$ Calculate Grams's stock basis at year-end.

Gene Grams Is a 45% Owner of a Calendar Year