Clampett, Inc., has been an S corporation since its inception. On July 15, 2020, Clampett, Inc., distributed $50,000 to J. D. His basis in his Clampett, Inc., stock on January 1, 2020, was $45,000. For 2020, J. D. was allocated $10,000 of ordinary income from Clampett, Inc., and no separately stated items. What is the amount of income J. D. recognizes related to Clampett, Inc., in 2020

Interview notes mike is 50 and made $36,000 in wages in 2017. he is single and pays all the cost of keeping up his home. mike's daughter, brittany, lived with mike all year. brittany's son, hayden, was born in november 2017. hayden lived in mike's home since birth. brittany is 25, single, and had $1,500 in wages in 2017. she is not disabled. mike provides more than half of the support for both brittany and hayden. mike, brittany, and hayden are all u.s. citizens with valid social security numbers. 4. who can mike claim as a qualifying child(ren) for the earned income credit?