What is suzys basis after the distribution

Reference no: EM13123404

Suzy has been the sole shareholder of a calendar year S-Corporation since 1979. The S-Corporation has the following balances:
AAA $5,000
AE&P $9,000

Suzy received a distribution of $15,000 when her basis was $5,000.

a) How will Suzy's distribution be taxed?
b) What is Suzy's basis after the distribution?

Reference no: EM13123404

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