Jon owns 100 % of Jon, Inc (JI). Jl is liquidated and Jon receives land with a FMV of $500,000 and a tax basis of $300,000 and a building with a fair market value of $1,000,000 and a tax basis of $200,000. The building is subject to a mortgage of $100,000. Jon's basis in Ji stock is $200,000. Jl has $3,000,000 of eamings and profits. As a result of the liquidation, Jl must recognize OA No gain or loss OB. $200,000 gain on the land and $800,000 gain on building OC. $500,000 gain on land and $900,000 gain on building OD. $200,000 gain on land and $900,000 gain on building