Question $21$

Odorizzi Corporation is an S corporation with one shareholder, Jake. Jake's stock basis at the beginning of the current year is $$8,000.$ Odorizzi Corporation reports the following results for the current year:

Ordinary loss: $$6,000$

Dividend income: $$2,000$

In addition, at the beginning of the current year, the $S$ corporation has a $$5,000$ AAA balance and a $$4,000$ AEP balance. Odorizzi Corporation distributes $$7,500$ cash to Jake. Provide each of the following amounts. Enter negative amounts using the negative sign; e$.$g$.,$ for negative $1,000,$ you should enter $-1,000.$ Enter zero as $0.$

Ending balance in AAA: $

Ending balance in AEP:$

Eddie's ending stock basis: $

The amount of the distribution that is taxable as dividends: $

The amount of the loss that is deductible: $

Now assume the same facts as above except that Odorizzi Corporation elects the AAA bypass election.