Which of the following statements is FALSE?

Group of answer choices

A. Corporate capital losses in excess of capital gains reduce current year earnings and profits in the year they are incurred.

B. IRC 311(a)(2) disallows the recognition of loss by a corporation on distributed property that has declined in value.

C. When a C corporation distributes appreciated property to its shareholders, the corporation reduces its earnings and profits by the adjusted basis of the distributed property.

D. If a corporation distributes appreciated property in a non-liquidating distribution, it recognizes gain in the amount equal to the excess of the fair market value of the property over its adjusted basis.

E. All of the above are TRUE.