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

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

You Are a 60% Owner of an S Corporation