Jonathan's basis in his S corporation stock is $4,000 at the end of the year...
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Accounting
Jonathan's basis in his S corporation stock is $4,000 at the end of the year before the corporation reports his $1,500 share of income and distributes $2,500 cash to him. What is his basis at the beginning of the following tax year?
a.
0
b.
$2,500
c.
$3,000
d.
$4,000
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