S Corp Project

S Corp Project Format

In the blackboard course, under Assignments, Project S corp there is posted a

document (PLEASE SEE ONE OF THE ATTACHED DOCUMENTS)

That posted document has the following Solution from a problem in the undergraduate text.

The Solution should help with the format in which to prepare the S Corp Project answers.

b. Beginning stock basis $32,000 Add: Ordinary income $32,000 Tax-exempt interest 1,200 Dividends received 2,000 Recovery of state taxes 2,000 LTCG 5,600 Additional investment 9,000 51,800 $83,800 Less: Charitable contribution $ 2,400 LTCL 2,800 STCL 2,400 (7,600) Ending stock basis $76,200 c. Beginning AAA $31,000 Add: Ordinary income $80,000 Dividends received 5,000 Recovery of state taxes 5,000 LTCG 14,000 104,000 $135,000 Less: Charitable contributions $ 6,000 LTCL 7,000 STCL 6,000 (19,000) Ending AAA $116,000