The Hass Corp., a calendar year S corporation, has two equal shareholders. For the year...
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The Hass Corp., a calendar year S corporation, has two equal shareholders. For the year ended December 31, 20X3, Haas had taxable income and current earnings and profits of $60,000, which included $50,000 from operations and $10,000 from investment interest income. There were no other transactions that year. Each shareholder's basis in the stock of Haas will increase by $0 $30,000 $50,000 $25,000
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