Question: Hickory Corporation owns a building with a $160,000 adjusted basis and a $120,000 FMV. Hickorys E&P is $200,000. Should the corporation sell the building and

Hickory owns a building with a $160,000 adjusted basis and a $120,000 FMV. Hickory’s E&P is $200,000. Should the sell the building and distribute the sales proceeds to its shareholders or distribute the property to its shareholders and let them sell it? Why?

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