W has a zero basis in his stock investment with Y Corporation, a C corporation. During the year, W receives a $50,000 cash distribution. His share of the current-year earnings and profits is a negative $30,000 and his share of the beginning-of-year accumulated earnings and profits is a negative $10,000. How does W treat the $50,000 distribution?

		Taxable dividend income
		Capital gain
		Nontaxable return of capital
		Part nontaxable return of capital and part capital gain