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Able Corporation had an earning and profits balances of $8,000 on December 31 of the current year before distribution. Able made a distribution of $15,000

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Able Corporation had an earning and profits balances of $8,000 on December 31 of the current year before distribution. Able made a distribution of $15,000 on December 31 of the current year to Siggy, an individual shareholder. the adjusted basis of Siggy's 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

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