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What is G AGI

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Question - A calendar year business was operated as a C corporation from 1998 through 2007, and as an S corporation since 2008. Its account balances at the end of 2019 are as follows:

1999-07 accumulated earnings and profits $3000

2008-19 accumulated adjustment account 2,000

2019 net ordinary income 5,000

2019 cash distributions to G 12,000

G, the sole shareholder, had a basis in her stock of $4,000 at the beginning of 2019. G is single and has no other tax information. What is G's A.G.I.?

Reference no: EM132958424

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