(Answered) Question - greiner inc a calendar year s corporation holds

Accounting

Question - Greiner, Inc., a calendar year S corporation, holds no AEP. During the year, Chad, an individual Greiner shareholder, receives a cash distribution of $30,000 from the entity. Chad's basis in his stock is $25,000. Compute Chad's ordinary income and capital gain from the distribution. What is his stock basis after accounting for the payment?

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