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ABC Incorporated, has been an S corporation since its inception. On July 15, 2023, ABC Incorporated, distributed $50,000 to SH. SH's basis in his
ABC Incorporated, has been an S corporation since its inception. On July 15, 2023, ABC Incorporated, distributed $50,000 to SH. SH's basis in his ABC Incorporated, stock on January 1, 2023, was $30,000. For 2023, SH was allocated $10,000 of ordinary income from ABC Incorporated, and no separately stated items. What is SH's basis in his ABC Incorporated, stock after all transactions in 2023? Type your answer...
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