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Business, 19.12.2019 05:31 dorianhenderson987

On january 2, 2015, tim loans his s corporation $10,000. by the end of 2015, tim’s stock basis is zero, and the basis in his note has been reduced to $8,000. during 2016, the company’s operating income is $10,000. the company makes 2016 distributions to tim of $8,000. tim reports a(n):

a. $2,000 ltcg.

b. $8,000 ltcg.

c. stock basis of $2,000.

d. loan basis of $10,000.

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On january 2, 2015, tim loans his s corporation $10,000. by the end of 2015, tim’s stock basis is ze...

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