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Holbrook, a calendar year S corporation, distributes $144,100 cash to its only shareholder, Cody, on December 31 . Cody's basis in his stock is $172,920,
Holbrook, a calendar year S corporation, distributes $144,100 cash to its only shareholder, Cody, on December 31 . Cody's basis in his stock is $172,920, Holbrook's AAA balance is $64,845, and Holbrook has $21,615 AEP before the distribution. According to the distribution ordering rules, complete the chart below to indicate how much of the $144,100 is from AAA and AEP as well as how Cody's stock basis is affected. If an amount is zero, enter "0
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