Arni is a 50 shareholder in Energy Corporation, an S corporation. The S Corporation had an $80,000 ordinary loss in 2016 and $1,000 of income in 2017. On January 1, 2016, Arni's basis i his Energy stock is $32,000 and energy owed arni $4,000 (n unsecured not having a basis of $4,000). What is Arni’s stock basis and debt basis at the end of 2017?

Answer rating: 100% (QA)

Arnie report on his tax return for last year Basis of stock 32000 Ba... View the full answer