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clampett, incorporated, has been an s corporation since its inception. on july 15, 2022, clampett, incorporated, distributed $51,000 to j.d. his basis in his clampett, incorporated, stock on january 1, 2022, was $46,500. for 2022, j.d. was allocated $11,500 of ordinary income from clampett, incorporated, and no separately stated items. what is j.d.'s basis in his clampett, incorporated, stock after all transactions in 2022?

Respuesta :

In the Clampett, incorporated corporation, on the J.D.'s basis in his Clampett, incorporated, stock after all transactions in 2022 is $ 7,000.

What do you mean by the Stock?

A stock is a colloquial phrase for any company's ownership certificates. On the other hand, a share alludes to a certain company's stock certificate.

You become a shareholder if you possess shares of a specific corporation. There are two sorts of stocks: ordinary and preferred.

A stock is a type of instrument that denotes the holder's ownership stake in the issuing company and is typically traded on stock markets.

Here,

J.D basis in his Clampett Inc., stock after all transactions in 2022 is as follows:

J.D basis in his Clampett Inc., stock                                               $ 46,500

Add: Allocation of ordinary income from Clampett Inc.                $ 11,500

Total Basis                                                                                     $  58,000

Less: Distribution                                                                              $ 51,000

J.D basis in his Clampett Inc., stock after all transactions

in 2022                                                                                               $ 7,000

Therefore, in the Clampett, incorporated corporation, on the J.D.'s basis in his Clampett, incorporated, stock after all transactions in 2022 is $ 7,000.

To know more about the stock, visit:

https://brainly.com/question/29992015

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