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Compute chad ordinary income from the distribution

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Reference no: EM132911475

Greiner, Inc., a calendar year S corporation, holds no AEP. During the year, Chad, an individual Greiner shareholder, receives a cash distribution of $162,700 from the entity. Chad's basis in his stock is $130,160.

Problem 1: Compute Chad's ordinary income and capital gain from the distribution. What is his stock basis after accounting for the payment?

Reference no: EM132911475

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