Mathematics
Mathematics, 14.07.2019 11:30, aruhter2843

Paige, a 25% shareholder in an s corporation, had a stock basis of $10,000 at the beginning of the year. the corporation had ordinary income of $200,000 for the year. there were no separately stated items. paige received wages from the corporation of $25,000 and a distribution of $30,000. what was paige's basis in the stock at year end?

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Mathematics, 07.10.2019 08:02, steven0448
Logan, a 50 percent shareholder in military gear inc. (mg), is comparing the tax consequences of losses from c corporations with losses from s corporations. assume mg has a $105,000 tax loss for the year, logan's tax basis in his mg stock was $152,500 at the beginning of the year, and he received $77,500 ordinary income from other sources during the year. assuming logan's marginal tax rate is 24%, how much more tax will logan pay currently if mg is a c corporation compared to the tax he would pay if it were an s corporation?
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