Business, 16.03.2020 23:48 notorius315
Holbrook, a calendar year S corporation, distributes $51,700 cash to its only shareholder, Cody, on December 31. Cody's basis in his stock is $62,040, Holbrook's AAA balance is $23,265, and Holbrook has $7,755 AEP before the distribution. According to the distribution ordering rules, complete the chart below to indicate how much of the $51,700 is from AAA and AEP as well as how Cody's stock basis is affected.
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Holbrook, a calendar year S corporation, distributes $51,700 cash to its only shareholder, Cody, on...
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