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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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