Jonah is a 25% stockholder in an S corporation. All of the shareholders receive a proportionate property distribution from the S corporation. The total value of the property distributed is $100,000 and the basis of the property is $60,000. SELECT ALL OF THE TRUE STATEMENTS FROM THE LIST BELOW!! The S corporation will recognize a $40,000 gain on this distribution The S corporation will recognize no gain on this distribution Jonah will be passed through $10,000 of gain and that will increase his stock basis Johan will reduce basis of his S corporation stock by the corporation's basis in the property distributed. Jonah will reduce the basis of his S corporation stock by the $25,000 fair market value of the property received.