Mario Receives a Liquidating Distribution of Land with a Fair

question 8

Multiple Choice

Mario receives a liquidating distribution of land with a fair market value of $19,000 and a basis of $15,000 from Blithe Corporation,an S corporation.Mario's basis in the stock is $21,000.What must Mario and Blithe report as income (loss) from the property distribution?
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Mario Blithe

• A)$-0- $-0-
• B)$(2,000)$4,000
• C)$(6,000)$-0-
• D)$(6,000)$4,000

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Definitions:

Bruits

Sounds heard over the arteries or veins during auscultation, indicative of abnormal blood flow, often due to narrow or blocked vessels.

Exhale

The process of releasing air from the lungs through the mouth or nose.

Tetralogy of Fallot

A congenital heart defect that includes four abnormalities: a large ventricular septal defect, pulmonary stenosis, right ventricular hypertrophy, and an overriding aorta.

Systolic Murmur

A heart sound indicating turbulent blood flow that occurs during the heartbeat's systolic phase, often implying valvular heart disease or other circulatory issues.