Elk Company reports a deficit in current E&P of $($$$200,000)$ and positive accumulated E&P of $$300,000.$ Elk distributed $$200,000$ to its sole shareholder, Barney Rubble, on December $31,20$X$3.$ Barney's tax basis in his Elk stock is $$75,000.$ What is the tax treatment of the distribution to Barney, and what is his tax basis in Elk stock after the distribution?