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only need the answer, don't need the step. Please answer ASAP! 123 55 Jack is a 50% shareholder in an S Corporation that has no

image text in transcribedonly need the answer, don't need the step. Please answer ASAP!

123 55 Jack is a 50% shareholder in an S Corporation that has no E&P. His stock basis is $5,000 on December 31 when he receives a $4,000 distribution from the S Corporation. How much of the distribution is taxable? $5,000 $4,000 $1,500 $0

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