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Holbrook, a calendar year S corporation, distributes $175,600 cash to its only shareholder, Cody, on December 31. Cody's basis in his stock is $210,720, Holbrook's
Holbrook, a calendar year S corporation, distributes $175,600 cash to its only shareholder, Cody, on December 31. Cody's basis in his stock is $210,720, Holbrook's AAA balance is $79,020, and Holbrook has $26,340 AEP before the distribution. According to the distribution ordering rules, complete the chart below to indicate how much of the $175,600 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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