Stahl, an individual, owns 100% of Talon, an S corporation. At the beginning of the year, Stahl's basis in Talon was $65,000. Talon reported the following items from operations during the current year: Ordinary loss: $10,000 Municipal interest income $6,000 Long-term capital gain: $4,000 Short-term capital loss: $9,000 What was Stahl's basis in Talon at year-end?

Stahl, an individual, owns 100% of Talon, an S corporation. At the beginning of the year, Stahl's basis in Talon was $65,000. Talon reported the following items from operations during the current year: Ordinary loss: $10,000 Municipal interest income $6,000 Long-term capital gain: $4,000 Short-term capital loss: $9,000 What was Stahl's basis in Talon at year-end?

Stahl, an individual, owns 100% of Talon, an S corporation. At the beginning of the year, Stahl's basis in Talon was $65,000. Talon reported the following items from operations during the current year:
Ordinary loss: $10,000
Municipal interest income $6,000
Long-term capital gain: $4,000
Short-term capital loss: $9,000
What was Stahl's basis in Talon at year-end?






a. $50,000
b. $55,000
c. $56,000
d. $61,000






Answer: C