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Business, 11.10.2019 18:30 droidd133

Beech corp., an accrual-basis, calendar-year s corporation, has been an s corporation since its inception. at the beginning of the current year, gold owned 50% of the 100 issued shares of beech stock, and had a $3,000 tax basis in the beech stock. during the current year, beech had $200,000 in net business income and $4,000 in oak county municipal bond interest income. beech made no distributions to its shareholders. what was gold’s tax basis in beech stock at year end?

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Beech corp., an accrual-basis, calendar-year s corporation, has been an s corporation since its ince...

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