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Author Question: Bryan Corporation, an S corporation since its organization, is owned entirely by Mr. Bryan. The ... (Read 151 times)

mikaylakyoung

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on: Sep 13, 2020
Bryan Corporation, an S corporation since its organization, is owned entirely by Mr. Bryan. The corporation uses a calendar year as its taxable year. Mr. Bryan paid $120,000 for his Bryan stock when the corporation was formed on January 1 of this year. For this year, Bryan Corporation reported the following results:



Distributions of $40,000 were made during the year. What is the basis of Mr. Bryan's stock on December 31?
◦ $163,000
◦ $165,000
◦ $203,000
◦ $205,000
Federal Taxation 2017 Individuals ¦ Pope, Rupert, Anderson ¦ 30th Edition
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Marked as best answer by mikaylakyoung on Sep 13, 2020

jojobee318

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Reply #1 on: Sep 13, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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mikaylakyoung

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Reply 2 on: Sep 13, 2020
Great answer, keep it coming :)

bbburns21

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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