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Greiner, Inc., a calendar year S corporation, holds no AEP. During the year,Chad, an individual Greiner shareholder, receives a cash distribution of $30,000 from the
Greiner, Inc., a calendar year S corporation, holds no AEP. During the year,Chad, an individual Greiner shareholder, receives a cash distribution of $30,000 from the entity. Chads basis in his stock is $25,000. Compute Chads ordinary income and capital gain from the distribution. What is his stock basis after accounting for the payment?
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