ABC Corp. had accumulated earnings and profits as of January 1, 2019 equal to $20,000.For the calendar year ending December 31, 2019 its current earnings and profits were equal to $15,000. On March 31, 2019, ABC Corp. distributed $30,000 to Smith its sole shareholder.On December 31, 2019, ABC Corp. distributed another $20,000 to Smith.Smith had purchased his ABC Corp. stock from Grey on September 15, 2009, paying $11,000 for his shares.

What is the amount and character of the March 31, 2019 distribution received by Smith?