What is j.d.''s basis in his clampett, inc. stock, Accounting Basics

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What is j.d.''s basis in his clampett, inc. stock

Clampett, Inc. has been an S corporation since its inception. On July 15, 2011, Clampett, Inc. distributed $50,000 to J.D. His basis in his Clampett, Inc. stock on January 1, 2011, was $45,000. For 2011, J.D. was allocated $10,000 of ordinary income from Clampett, Inc. and no separately stated items. What is J.D.'s basis in his Clampett, Inc. stock after all transactions in 2011?

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Accounting Basics: What is j.d.''s basis in his clampett, inc. stock

Reference No:- TGS088098

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Accounting Basics: What is j.d.''s basis in his clampett, inc. stock

Reference No:- TGS088098

Recent Questions Asked Accounting Basics

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