Which of the following statements is TRUE? Group of answer choices A. When making a non-liquidating distribution of property, the corporation's E & P are reduced by the property's fair market value even if the property's adjusted basis exceeds its fair market value. B. When making a non-liquidating distribution of property, the corporation recognizes both gains and losses. C. When a corporation makes a non-liquidating distribution, there is no tacking of holding period as a new holding period for the shareholder begins on the day after the distribution. D. All of the above statements are FALSE.