Problem 22-27 (LO. 5, 6, 7) McLin, Inc., is a calendar year S corporation. Its AAA balance is zero. Determine the tax aspects of the following transactions. If an amount is zero, enter "0". a. McLin holds $90,000 of AEP. Tobias, the sole shareholder, has an adjusted basis of $80,000 in his stock. Tobias is paid a $90,000 salary. Ignore the 20% QBI deduction. Tobias recognizes $90,000 of ordinary income to Tobias. Tobias' stock basis is $ The corporation reports a $ 90,000 deduction that passes through and he holds a $ loss carryover. Feedback Check My Work The amount of any distribution to an S corporation shareholder is equal to the cash plus the fair market value of any other property distributed. How the distribution is taxed depends upon whether the S corporation has C corporation accumulated earnings and profits. b. McLin holds $90,000 of AEP. Tobias, the sole shareholder, has an adjusted basis of $80,000 in his stock. McLin pays Tobias a $90,000 cash distribution from AEP. Tobias recognizes $ 90,000 of dividend income with no deduction pass-through and has a $ stock basis. AEP is $