Malone, Inc., an S corporation, holds an AAA balance of $1,228,000 at the beginning of the...

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Malone, Inc., an S corporation, holds an AAA balance of $1,228,000 at the beginning of the tax year. During the year, the following items occur. - Operating income - Interest income $1,002,000 13,000 - Dividend income 26,040 - Tax-exempt interest income 12,000 Long-term capital loss 14,800 - Section 179 depreciation deduction 12,000 - Charitable contributions 38,000 - Cash distributions 114,000 What is Malone's AAA balance at the end of the year? Malone, Inc., an S corporation, holds an AAA balance of $1,228,000 at the beginning of the tax year. During the year, the following items occur. - Operating income - Interest income $1,002,000 13,000 - Dividend income 26,040 - Tax-exempt interest income 12,000 Long-term capital loss 14,800 - Section 179 depreciation deduction 12,000 - Charitable contributions 38,000 - Cash distributions 114,000 What is Malone's AAA balance at the end of the year?

Answer rating: 100% (QA)

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