Maximus Company reports current E&P of $$155,000$ in $2024$ and a deficit of $($$$310,000)$ in accumulated E&P at the beginning of the year. Maximus distributed $$465,000$ to its sole shareholder Jack on January $1,2024.$ The shareholder's tax basis in his stock in Maximus is $$155,000.$ How is the distribution treated by the shareholder $($Jack$)$ in $2024?$