what is the answer to this?

3. Sam owns 25% of CCC Corporation stock. Three others own 25% each too. CCC sells diamonds to retail jewelry businesses. While CCC has a deficit in accumulated E \& P DEFICIT of $(556,000) at the beginning of the year, its current E&P is $200,000. Since the company had a successful year, CCC makes a $50,000CASH distribution on 12/31 of the current year to each of the company's three shareholders, other than Sam, on December 31. INSTEAD of CASH, CCC distributes a diamond to Sam. The adjusted basis of this diamond was $200,000 but it had a fair market value of $50,000. Apparently the diamond market had crashed due to imitation diamonds being produced and sold! Anyway - Question 1 - Determine the effect of distributing the diamond to Sam on CCC's taxable income - Line 30 of Form 1120. And, Question 2. What is the impact of the distribution on Sam's adjusted gross income on his Form 1040? Finally - Question 3 - What is Sam's basis in the diamond? Question 4- Was the distribution of this diamond, to Sam, good tax planning on the part of CCC CORP? Why or why not