Riverwalk Corporation Is Liquidated, with Juan Receiving $5,000 in Money

question 85

Multiple Choice

Riverwalk Corporation is liquidated, with Juan receiving $5,000 in money and other property having a $6,000 FMV. Juan's basis in his Riverwalk stock is $8,000. Upon liquidation, Juan must recognize a gain of

• A)0)
• B)$2,000.
• C)$3,000.
• D)$11,000.

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