Sharon Lee owns 25% of Lee Corporation, a calendar year-end S corporation. Her beginning basis...
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Sharon Lee owns 25% of Lee Corporation, a calendar year-end S corporation. Her beginning basis in her stock is $54000 and her Schedule K-1 reflects the following items for the current year: Ordinary business income $23000, Municipal interest income $1100, Short-term capital gain $7600, Distributions $92000. What is Sharons ending basis in her stock for the current year in Lee Corporation?
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