Assumptions: A owns half the common stock of X and an adjusted basis of $40, and Y owns the other half of the X common stock with an adjusted basis of $100. Xs current E&P from current year income and expenses and losses before the events below is $94 and X has no accumulated earnings and profits. X uses the accrual method, all taxpayers are on the calendar year. Assume section 1059 does not apply. Assume the corporate rate is 34%. A. X distributes in kind, its long-held Google stock with an adjusted basis of $40 and a fair market value of $100 to Y. X also distribute other long-held Google stock with an adjusted basis of $60 and a fair market value of $100 today. What are the results to A, Y and X? B. Assume in the alternative the basis of the stock distribute to A is $120. C. Suppose that each block of Google stock in the basic facts above were subject to $50 nonrecourse liability? i alternatively a $120 non-recourse liability. D leases some rental property that owns to T. T agrees to pay annual rent directly to Xs shareholder A and Y. e. X sells an apartment building that it owns to A and Y jointly for $100 the property has a basis of $100 value of $200. Alternatively A & Y paid $300 for the property.