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Problem 11-74 (LO 11-6) (Algo) The following information applies to the questions displayed below] Alabama Corporation, an S corporation, liquidates this year by distributing a

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Problem 11-74 (LO 11-6) (Algo) The following information applies to the questions displayed below] Alabama Corporation, an S corporation, liquidates this year by distributing a parcel of land to its sole shareholder, Mark ingram. The fair market value of the parcel is $55,100, and its tax basis is $33,600. Mark's basis in his stock is $27,700. Problem 11-74 Part a (Algo) 9. What amount of gain or loss, if any, does Alabama Corporation recognize on the distribution? Problem 11-74 (LO 11-6) (Algo) [The following information applies to the questions displayed below.] Alabama Corporation, an S corporation, liquidates this year by distributing a parcel of land to its sole shareholder, Mark Ingram. The fair market value of the parcel is $55,100, and its tax basis is $33,600. Mark's basis in his stock is $27,700. Problem 11-74 Part b (Algo) How much gain must Mark recognize (if any) as a result of the distribution, and what is his basis in the land? [The following information applies to the questions displayed below] Alabama Corporation, an S corporation, liquidates this year by distributing a parcel of land to its sole shareholder, Mark Ingram. The fair market value of the parcel is $55,100, and its tax basis is $33,600. Mark's basis in his stock is $27,700. roblem 11-74 Part c (Algo) Assume the fair market value of the land is $23,000 rather than $55,100. What amount of gain or loss, if any, does Alabama orporation recognize on the distribution? Required information Problem 11-74 (LO 11-6) (Algo) [The following information applies to the questions displayed below] Alabama Corporation, an S corporation, liquidates this year by distributing a parcel of land to its sole shareholder, Mark Ingram. The fair market value of the parcel is $55.100, and its tax basis is $33.600. Mark's basis in his stock is $27,700. Problem 11-74 Part d (Algo) A. Assume the fair market value of the land is $23,000 rather than $55,100. How much gain must Mark recogrize (f any) as a result he distribution, and what is his basis in the land

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