You are a 60% owner of an S corporation. Calculate your ending stock basis based upon these facts. $$\begin{array} { l r }
\text { Beginning stock basis } & \$ 52,600 \
\text { Purchases of additional stock } & 15,000 \
\text { Insurance premiums paid (nondeductible) } & 3,600 \
\text { Tax-exempt interest income } & 5,230 \
\text { Payroll tax penalty } & 3,770 \
\text { Increase in AAA } & 22,400 \
\text { Increase in OAA } & 5,800
\end{array}$$

Question

You are a 60% owner of an S corporation. Calculate your ending stock basis based upon these facts. $$\begin{array} { l r } 
\text { Beginning stock basis } & \$ 52,600 \
\text { Purchases of additional stock } & 15,000 \
\text { Insurance premiums paid (nondeductible) } & 3,600 \
\text { Tax-exempt interest income } & 5,230 \
\text { Payroll tax penalty } & 3,770 \
\text { Increase in AAA } & 22,400 \
\text { Increase in OAA } & 5,800
\end{array}$$

Quizplus · Accepted Answer

The Answer of You are a 60% owner of an S corporation. Calculate your ending stock basis based upon these facts. $$\begin{array} { l r } 
\text { Beginning stock basis } & \$ 52,600 \
\text { Purchases of additional stock } & 15,000 \
\text { Insurance premiums paid (nondeductible) } & 3,600 \
\text { Tax-exempt interest income } & 5,230 \
\text { Payroll tax penalty } & 3,770 \
\text { Increase in AAA } & 22,400 \
\text { Increase in OAA } & 5,800
\end{array}$$

You Are a 60% Owner of an S Corporation