Linda owns 30% of the stock in an S corporation. Libdas basis in the S...
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Accounting
Linda owns 30% of the stock in an S corporation. Libdas basis in the S corporation stock at December 31,2017 was $14,000. Income reported by the S corporation during 2018 was $80,000. Linda received a distribution of $20,000 during the year. What should be Lindas basis in the S corporation stock at December 31, 2018?
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