7 Lydia Corporation distributes Land (Adjusted Basis of $20,000 and Fair Market Value of $70,000) as a Property Dividend to harders. The Land is so Rability of $80,000 Lydia Corporation must Recognire Gain of $50,000 O $60,000 O $70,000 $ -0 QUESTION 8 On January 1, 2021, Lenise Corporation had a Deficit" (negative) in its Accumulated Earnings And Profits (E & P) of ($60,000). For the year of 2021, Lanise Corporation had Current Earnings And Profits (E & P) of $40,000. On December 31, 2021, Lenise Corporation distributed $45,000 to its sole shareholder, Amelia At the time of the distribution, Amelia had a basis of $20,000 in her stock in Lenise Corporation. Amelia's Taxable Dividend Income as a result of this distribution O $45,000. 00 $ -0- $40,000. $20,000. QUESTION? As of January 1, 2021, Sebu Corporation (a calendar year taxpayer) had a positive balance in Accumulated Earnings And Profts (EAP) of $30.000 For the tax year of 2021, Sebu Corporation's Current Eamings And Profite (EAP) was a Deficit (negative) ($50,000) On June 30, 2021, Sirbu Corporation but $110.000 sole shareholder. The amount of the distribution that is a Taxable Dividend Income in the shareholder le $30,000. $5,000 $20,000 00 -0. QUESTION 10 Cindy had a basis of $60,000 in her Stock in Calderon Corporation which she sold to Marina on July 31, 2021 for $140,000. Cindy acquired the Stock in 2010 Calderon Corporation had Accumulated Earnings And Profits (AE&P) of $50,000 on January 1, 2021 and Current Earnings And Profits (CE&P) for 2021 of $100,000. During the year of 2021, Calderon Corporation made the following distributions: $150,000 Cash to Cindy on July 1, 2021 and $150,000 Cash to Marina on December 31, 2021. Taxable income (Dividends) to Marina is: O $125,000. $100,000. O$ 25,000 O$ 50,000 QUESTION 11