Logan owns all the stock of Franklin Corporation, an S corporation. Logan's basis for the 1,000 shares is $ 55,000.On June18 of the current year (assume a non-leap year), Logan gifts 100 shares of stock to his younger brother Ryan,who has been working in the business for one year. Franklin Corporation reports$ 50,000 of ordinary income for the current year.

Requirement

What amount of income is allocated to

Logan To Ryan (Use a 365-day year for computations. Do not round intermediary calculations. Only round the amount you enter in the input field to the nearest dollar.)

	Ordinary income allocated
Logan
Ryan