Tan Corporation purchased depreciable tangible personal property for $100,000 in 2011 and immediately expensed the entire cost

Question:

Tan purchased depreciable tangible personal property for $100,000 in 2011 and immediately expensed the entire cost under § 168(k). In 2013, when the property was worth $80,000, Tan distributed it as a to the corporation's sole shareholder. What was the tax status of this property for Tan? What is the nature of the recognized gain or loss from the of the property?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...