Two shareholder P and Q formed S - Corporation on 0 1 / 0 1 / 2
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Question:
Two shareholder P and Q formed SCorporation on P contributed cash and Q contribute
equipment valued at $ and basis of P and Q are equal shareholders
During the year SCorporation incurred the following items
Sales
Cost of sales
Depreciation ExpenseMacrs
Other expenses
Section depreciation
Section gain
Short tem capital loss
Long term capltal gain
Charitable Contribution
Calculate basis of each shareholder on
Calculate Separately and Non Separately reported items
Calculate Basis of each shareholder at the end of year
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