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During the year of 2022, Nanette; the sole (one hundred percent (1005)) shareholder of the...

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Accounting

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During the year of 2022, Nanette; the sole (one hundred percent (1005)) shareholder of the calendar year Johnson Corporation, an 5 Corporation, received a distribution of $16,000. At the beginning of the year of 2022 , Nanette basis in her stock in johnson Corporation was 14,000 . Johnsen Corporaticen, receiver $11,000 Ordinary income during the Ordinary income of $11,000 and Long-Temn Capitat Lose of $1,000 Ordinary income of $11,000 and Long-Tem Capitar Lose of $1,000. Ordinary Income of $11,000 and Long-Term Capitat Gain of $15,000 Ordinary income of $15,000

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