Question: Please Answer All of Part C with details!

"Vogel recognizes a loss $0 and the net effect on Vogel's AAA is a decrease of $_____. Jamari would take a $150,000 basis in the land."

Exercise 12-21 (Algorithmic) (LO. 7) Vogel, Inc., an S corporation for five years, distributes a tract of land held as an investment to Jamari, its majority shareholder. The land was purchased for $150,000 ten years ago and is currently worth $375,000. If an amount is zero, enter, "0". a. As a result of the distribution, what is Vogel's recognized capital gain? How much is reported as a distribution to shareholders? Vogel recognizes a capital gain of $ 225,000 which is reported on Schedule K, and a proportionate share of it passes through to the shareholders . Jamari would take a $ 375,000 basis in the land. b. What is the net effect of the distribution on Vogel's AAA? There is a net decrease of $ 150,000 on Vogel's AAA. C. Assume instead that the land had been purchased for $375,000 and was currently worth $150,000. How much would Vogel recognize as a loss? What would be the net effect on Vogel's AAA? What would be Jamari's basis in the land? Vogel recognizes a loss $ o and the net effect on Vogel's AAA is a decrease of $ 0. Jamari would take a $ 150,000 basis in the land