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

question 19

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

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Definitions:

RTMS

Repetitive Transcranial Magnetic Stimulation, a non-invasive procedure that uses magnetic fields to stimulate nerve cells in the brain, often used to treat depression.

Magnetic Pulses

Used in the context of transcranial magnetic stimulation, these are electromagnetic pulses that stimulate specific areas of the brain to treat depression and other disorders.

Lobotomy

A psychosurgical procedure once used to calm uncontrollably emotional or violent patients. The procedure cut the nerves connecting the frontal lobes to the emotion-controlling centers of the inner brain.

Egas Moniz

António Egas Moniz was a Portuguese neurologist and the developer of cerebral angiography, as well as a Nobel Laureate for his work on prefrontal leucotomy.