Gary owns $100\%$ of the stock GaryDanielson Corp. His basis in the shares is $$50,000$ and the corporation has E&P of $$65,000.$ GaryDanielson Corp. redeems $55\%$ of Gary's shares for $$100,000$ in $2022.$ What is the amount and character of Gary's income related to this redemption?

Group of answer choices

$$72,500$ LTCG

$$0$ because redemptions by sole shareholders are tax$-$free to the shareholder

$$65,000$ in Dividend Income, $$35,000$ LTCG

$$65,000$ in Dividend Income

$$50,000$ LTCG