Gene Grams is a 55% owner of a calendar year S corporation during the tax...
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Accounting
Gene Grams is a 55% owner of a calendar year S corporation during the tax year. His beginning stock basis is $250,000, and the S corporation reports the following items.
Ordinary income $75,000
Short-term capital gain 16,000
1231 loss 6,000
Calculate Gramss stock basis at year-end.
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