Business, 13.11.2019 18:31 isamar7342
Waters corporation is an s corporation with two equal shareholders, mia jones and david kerns. this year, waters recorded the following items of income and expense: sales revenue $ 500,000 interest income 6,000 long-term capital gain 10,000 cost of goods sold (250,000 ) salary and wages (75,000 ) other operating expenses (55,000 ) waters distributed $25,000 to each of its shareholders during the year. if mia's adjusted tax basis in her partnership interest was $50,000 at the beginning of the year, compute her adjusted tax basis in her partnership interest at the end of the year.
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Waters corporation is an s corporation with two equal shareholders, mia jones and david kerns. this...