Clampett, inc., has been an s corporation since its inception. on july 15, 2020, clampett, inc., distributed $50,000 to j. d. his basis in his clampett, inc., stock on january 1, 2020, was $30,000. for 2020, j. d. was allocated $10,000 of ordinary income from clampett, inc., and no separately stated items. what is j. d.'s basis in his clampett, inc., stock after all transactions in 2020?

$20,000

Explanation:

J.D.'s basis in his Clampett, Inc., stock after all transactions in 2020 is as follows:

Allocated ordinary share income from Clampett, Inc. =    $10,000

Add: Capital gain from distribution in excess of basis:

Distributed portion =                        $ 50,000

Less: J.D.'s basis in Clampett =       $(30,000)

Less: Ordinary income from the

allocation of distributive share=       $(10,000)                    

Capital gain                                                                       =  $10,000

                                                                                           = $20,000

1) the stages a new product goes through from beginning to end, i.e., the stages that a product passes through from introduction through growth, maturity, and decline. 2) the time from initial research and development to the time at which sales and support of the product to customers are withdrawn. 3) the period of time during which a product can be produced and marketed profitably.

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