17 When an S corporation distributes property to its shareholders, a. The corporation must recognize any loss on the property b. The corporation must recognize any gain on the appreciated property c. The S corporation status is terminated; only cash distri d. Both a. and b. S corporations may be required to pay all of the following taxes excert a. Payroll taxes on compensation to shareholder-employees b. Built-in gains tax c. Personal holding company tax d. Excessive passive investment income tax e. LIFO recapture tax butions are allowed 18 Tax Forms What is the Tax Form Number for U.S. Return of Partnership Income? Form What is reported on Line 22 of the above form? What schedule is Partners Distributive Share Items reported on? Schedule (For the Partnership not for each Partner) What Schedule is Partners Share of Income, Deductions, Credits, etc reported on? What is the Tax Form Number for U.S. Income Tax Return for an S Corporation? Form What is reported on Line 21 of the above form? What Schedule is Shareholder's Share of Income, Deductions, Credits, etc reported on? Every Subchapter S Shareholder gets one of the above forms? True False