The Alpha Corporation owns a building with a basis of $40,000 that is subject to a debt of $160,000. The FMV of the building is $100,000. Alpha distributes the property in a nonliquidating distribution (along with the debt) to Jen, its sole shareholder. What is Jen's basis in the building received from Alpha in the distribution?

a. $160,000.b. $100,000.c. zerod. $60,000.e. none of the above.

The Alpha Corporation owns a building with a basis of $40,000 that is subject to a debt of $160,000. The FMV of the building is $100,000. Alpha distributes the property in a nonliquidating distribution (along with the debt) to Jen, its sole shareholder. What is the amount of the distribution to Jen?

a. $160,000.

b. $100,000.

c. zero.

d. $60,000.

e. none of the above.

The Alpha Corporation owns a building with a basis of $20,000 that is subject to a debt of $80,000. The FMV of the building is $100,000. Alpha distributes the property in a nonliquidating distribution (along with the debt) to Jen, its sole shareholder. What amount of gain or loss does Alpha recognize on the distribution?

a. $80,000.b. $60,000.c. $20,000.d. $30,000.e. none of the above.

The Alpha Corporation owns a building with a basis of $20,000 that is subject to a debt of $80,000. The FMV of the building is $50,000. Alpha distributes the property in a nonliquidating distribution (along with the debt) to Jen, its sole shareholder. What is the net effect of this transaction on Alpha Corporation's E&P?

a. $60,000 increase.b. $60,000 decrease.c. $20,000 decrease.d. $30,000 increase.e. none of the above.

The Alpha Corporation owns a building with a basis of $200,000. The FMV of the building is $180,000. Alpha distributes the property in a nonliquidating distribution to Jen, its sole shareholder. Alpha will recognize a $20,000 loss.

a. true.b. false.

The Alpha Corporation owns a building with a basis of $200,000. The FMV of the building is $180,000. Alpha distributes the property in a nonliquidating distribution to Jen, its sole shareholder. What is Jen's basis in the distributed property?

a. $200,000.b. $180.000.