Under a Plan of Complete Liquidation, Coast Corporation Distributes Land

question 97

Multiple Choice

Under a plan of complete liquidation, Coast Corporation distributes land with a $300,000 adjusted basis and a $400,000 FMV to William, a 25% shareholder. William has a $200,000 basis in his Coast stock. The land is inventory in the hands of Coast Corporation. Coast Corporation must recognize

• A)no gain.
• B)$100,000 of ordinary income.
• C)$100,000 of long-term capital gain.
• D)$200,000 of ordinary income.

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Definitions:

Discharge Destination

The location or facility to which a patient is sent after leaving a healthcare setting.

Team Approach

A collaborative strategy involving multiple professionals working together to address a problem or execute a project.

Alterations In Mobility

Changes in a person's ability to move, which can be due to various health conditions, injuries, or aging.

Physical Therapy

A specialized form of healthcare that uses physical methods, such as exercise and massage, to treat injuries or disorders and improve movement and function.