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Shelby is a shareholder in Grizzlyco, a calendar years corporation. At the beginning of the year, her stock basis is $55,000, her share of the
Shelby is a shareholder in Grizzlyco, a calendar years corporation. At the beginning of the year, her stock basis is $55,000, her share of the AAA is $19,000, and her share of corporate AEP is $42,000. At the end of the year, Shelby receives from GrizzlyCo a $25,000 cash distribution. Shelby's share of corporation items includes a $20,000 long-term capital gain and a $56,000 ordinary loss. Determine the effects of these events on Shelby's share of the entity's AAA, her stock basis, and GrizzlyCo's AEP. If an item has no effect or an amount is zero, enter "0". Enter amounts as positive numbers. However, use the minus sign to indicate if a " balance" amount is negative. AAA Stock Basis Beginning balance $19,000 $55,000 $42,000 Distribution AEP Balance LTCG Balance Loss Ending balance
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