a Dick owns 50% of an S corporation's stock with a basis in his stock of $50,000 on January 1. In addition, the S corporation owes Dick $30,000 on January 1. The debt has a basis of $30,000 and is evidenced by a note. The S corporation reports an ordinary loss of $150,000 for the current year. The next year it reports ordinary income of $20,000. On January 1 of the third year, the note is repaid. Due to the repayment of the note, what must Dick report