[17] Able Corporation had an earnings and profits balance of $8,000 on December 31 of the current year before distributions. Able made a distribution of $15,000 on December 31 of the current year to Siggy, an individual shareholder. The adjusted basis of Siggys stock in Able is $12,000. What amount should Siggy include as dividend income, and what is his basis in the stock after the distribution?

Dividend Income, Basis

A. $12,000 $9,000

B. $15,000 $12,000

C. $8,000 $5,000

D. $8,000 $12,000