Corbin is a 20% shareholder in Forever Inc., a calendar year S corporation. Corbin's beginning basis is $25,000. His share of Forever ordinary business income is $12,500. He received a distribution of $5,000. The S corporation debt increased by $10,000 in the current year. 

What is Corbin's ending basis?

Answer rating: 100% (QA)

To calculate Corbins ending basis in Forever Inc we need to ... View the full answer