An S-Corp has a piece of land that they bought for $5,000. It is now worth $15,000. If the S-Corp distributes this property to a shareholder what is the result? a. S-corp reports a no gain, the shareholder takes it with an adjusted basis of $5,000 and the shareholder will pay tax on the gain when property sold b. S-corp reports a $10,000 gain, the shareholder takes it with an adjusted basis of $15,000 and the S-Corp pays the tax on the gain c. S-corp reports a $10,000 gain, the shareholder takes it with an adjusted basis of $15,000 and the S-Corp will pass the gain to the shareholder who will report the gain d. S-corp reports a $10,000 gain, the shareholder takes it with an adjusted basis of $15,000 and the S-Corp will pass the gain to the shareholder e. S-Corp passes the property out of the corporation as a return of capital and the shareholder then reports the sale and the gain on individual return