Jean is a shareholder in Parrot Corporation,a calendar year S corporation.During the year,Jean's share of the pass-through from Parrot is:
∙
Dividend distribution by Parrot
$30,000
∙
Long-term capital gain
5,000
∙
Operating loss
20,000
∙
Tax-exempt interest income
10,000
If Jean's basis in the Parrot stock was $100,000 at the beginning of the year,her basis at the end of the year is:
A) $45,000.
B) $55,000.
C) $65,000.
D) $95,000.
E) None of the above.
Correct Answer:
Verified
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