A Corporation Distributes Land with a FMV of $85,000 (Basis

question 115

Multiple Choice

A corporation distributes land with a FMV of $85,000 (basis $50,000) . The land has a mortgage of $95,000 assumed by the shareholder. Gain to the corporation is

• A) $35,000.
• B) $10,000.
• C) $0.
• D) $45,000.

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Definitions:

Hydroxyl Ions

Negatively charged ions made of oxygen and hydrogen (OH-), which play a critical role in chemical reactions involving water.

Inferior and Superior

Terms used to describe the relative positions in anatomy, where "inferior" indicates a location towards the feet and "superior" indicates a location towards the head.

Divides the Body

Refers to the anatomical planes and lines that segment the body into different parts for medical and educational purposes.

Genetic Information

Data about an individual’s genetic makeup, including information about genes, gene products, or inherited characteristics that may derive from the individual or family members.