Suppose that at the beginning of 2020 Jamaal's basis in his S corporation stock is $1,800 and he has a $10,800 debt basis associated with a $10,800 loan he made to the S corporation. In 2020, Jamaal's share of S corporation income is $4,800, and he received a $7,800 distribution from the S corporation. What is Jamaal's stock and debt basis after these transactions?
A)$0 stock basis; $9,600 debt basis
B)$0 stock basis; $10,800 debt basis
C)$6,600 stock basis; $10,800 debt basis
D)$6,600 stock basis; $3,000 debt basis
E)None of the choices are correct.

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The Answer of Suppose that at the beginning of 2020 Jamaal's basis in his S corporation stock is $1,800 and he has a $10,800 debt basis associated with a $10,800 loan he made to the S corporation. In 2020, Jamaal's share of S corporation income is $4,800, and he received a $7,800 distribution from the S corporation. What is Jamaal's stock and debt basis after these transactions?
A)$0 stock basis; $9,600 debt basis
B)$0 stock basis; $10,800 debt basis
C)$6,600 stock basis; $10,800 debt basis
D)$6,600 stock basis; $3,000 debt basis
E)None of the choices are correct.

Suppose That at the Beginning of 2020 Jamaal's Basis in His