What is jds basis in his clampett and incorporated, Accounting Basics

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What is jds basis in his clampett and incorporated

Problem

Clampett, Incorporated, has been an $ corporation since Its Inception. On July 15, 2023, Clampett, Incorporated, distributed $70,000 to J.D. His basis In his Clampett, Incorporated, stock on January 1, 2023, was $75,000. For 2023, J.D. was allocated $11,000 of ordinary Income from Clampett, Incorporated, and no separately stated Items. What Is J.D.'s basis In his Clampett, Incorporated, stock after all transactions In 2023?

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