Beryl owns 100 percent of Hoptree Inc., an S corporation. At…
Beryl owns 100 percent of Hoptree Inc., an S corporation. At the beginning of the year, Beryl’s basis in her stock was $60,000, Hoptree’s accumulated adjustments account (AAA) balance was $35,000, and Hoptree’s earnings and profits from prior C corporation years (accumulated E&P) was $10,000. If Hoptree makes a nonliquidating distribution of $60,000 to Beryl, what is Beryl’s remaining stock basis after the distribution?