An S Corporation Distributes Land to Its Shareholders

question 98

Multiple Choice

An S corporation distributes land to its shareholders. The land has a $60,000 basis and a $90,000 FMV. The basis of the land to the shareholders is

• A)$0.
• B)$30,000.
• C)$60,000.
• D)$90,000.

---

Definitions:

Support Group

A gathering of individuals who share common experiences, challenges, or problems, offering each other emotional and moral support.

Measles

A highly contagious viral disease characterized by fever, cough, conjunctivitis, and a distinctive red rash.

Primary Care

Primary care is the day-to-day healthcare provided by a health care provider, serving as the first point of contact for patients, encompassing a broad spectrum of health services.

Nurse-managed Setting

A healthcare environment where nurses have the primary responsibility for patient care management, often including decision-making authority.