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George is a 30% shareholder in Bush Corporation (an S corporation). At the beginning of 2023 George's basis in his Bush Corporation stock is $25,000
George is a 30% shareholder in Bush Corporation (an S corporation). At the beginning of 2023 George's basis in his Bush Corporation stock is $25,000 and he has a $15,000 debt basis associated with a $15,000 loan he made to the S corporation. In 2023, Bush Corporation reported a $90,000 ordinary business loss. In 2023, George received a $5,000 distribution from Bush Corporation. What is George's stock and debt basis after these transactions
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