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Holbrook, a calendar year s corporation, distributes $150,400 cash to its only shareholder, Cody, on December 31. Cody's basis in his stock is $180,480, Holbrook's

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Holbrook, a calendar year s corporation, distributes $150,400 cash to its only shareholder, Cody, on December 31. Cody's basis in his stock is $180,480, Holbrook's AAA balance is $67,680, and Holbrook has $22,560 AEP before the distribution. According to the distribution ordering rules, complete the chart below to indicate how much of the $150,400 is from AAA and AEP as well as how Cody's stock basis is affected. If an amount is zero, enter "O". Distribution from Account Effect on Stock Basis Basis in Stock Beginning stock basis $180,480 From AAA account From AEP account DI MI From Cody's stock basis Ending stock basis

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