Question 7

7 Clampett. Incorporated, has been an scorporation since its inception On July 15, 2021. Clampett, Incorporated, distributed $78,000 to JD. His basis in his Clampett, Incorporated, stock on January 1 2021. was $39.000. For 2021, 3.D. was allocated 538,000 of ordinary income from Clampett, incorporated, and no separately stated items What is Jos basis in his Campett, Incorporated, stock after all transactions in 20217 Multiple Choice 577000 339.000 $1000 3.000 None of the choices are correct