You are a 60% owner of an S corporation. Calculate your ending stock basis, based upon these facts.
Definitions:
Sports Jargon
Specialized language or terminology used within the context of sports, often incomprehensible to those outside the field.
Play Hardball
An idiom suggesting a serious, uncompromising, or aggressive approach to negotiation or confrontation.
Throw In The Towel
An idiomatic expression meaning to give up or admit defeat in a competition or endeavor.
Coined Term
A newly created word or phrase that has been invented to describe a new concept or idea.
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