a Dried Fruit Corp has had a valid S Corp election in effect at all times since its incorporation The Dried Fruit Corp stock is owned one third by Raisin and two thirds by Prune All shareholders are US resident citizen individuals At the beginning of the current year, Raisin's basis in his shares was $18,000 and Prune's basis in her phares was $6,000 During the current year, Dried Fruit Corp earned $108,000 of net income from operations Raisin's share was $36,000 Prune's share was $72,000 On July 1st, Dried Fruit Corp distributed $48,000 to Raisin and $96,000 to Prune How much gain does Prune recognize as a result of this transaction $12,000 $0 $18,000 O $6,000

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a Dried Fruit Corp  has had a valid S Corp election in effect at all times since its incorporation  The Dried Fruit Corp  stock is owned one third by Raisin and two  thirds by Prune  All shareholders are US resident citizen individuals  At the beginning of the current year, Raisin's basis in his shares was $18,000 and Prune's basis in her phares was $6,000  During the current year, Dried Fruit Corp  earned $108,000 of net income from operations  Raisin's share was $36,000  Prune's share was $72,000  On July 1st, Dried Fruit Corp  distributed $48,000 to Raisin and $96,000 to Prune  How much gain does Prune recognize as a result of this transaction  $12,000 $0 $18,000 O $6,000

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a Dried Fruit Corp. has had a valid S Corp election in effect at all times since its incorporation. The Dried Fruit Corp. stock is

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