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Homework answers / question archive / Epstein is the sole shareholder of Cubbies Inc
Epstein is the sole shareholder of Cubbies Inc. Cubbies Inc. is treated as an S Corporation for tax purposes. Cubbies Inc. had the following items reported on Epstein’s K-1: share of ordinary income $22,000; dividend income $500; tax exempt interest $250; share of non-deductible expenses $760; distributions of $15,000. Assume Epstein’s beginning stock basis for the year was $2,800. Determine Epstein’s ending balance of his stock basis in Cubbies Inc.
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