Geralyn receives a distribution of $$170,000$ from Norman Corporation, an S Corporation, in which she is the sole $($one hundred percent $(100\%))$ shareholder. Norman Corporation has an Accumulated Adjustments Account $($AAA$)$ of $$22,500$ and Accumulated Earnings And Profits $($AEP$)$ of $$2,500.$ Geralyn's basis in her stock in Norman Corporation is $$30,000.$ The amount of Capital Gain recognized by Geralyn as a result of this distribution is $$137,500.$

False

True