Pursuant to a complete liquidation,Southern Electric Corporation distributes the following assets to its shareholders:
Inventory: $15,000 basis,$20,000 FMV
Land held as an investment: $10,000 basis,$40,000 FMV
Marketable securities: $35,000 basis; $30,000 FMV
What are the tax consequences to Southern Electric Corporation?

Question

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The Answer of Pursuant to a complete liquidation,Southern Electric Corporation distributes the following assets to its shareholders:
Inventory: $15,000 basis,$20,000 FMV
Land held as an investment: $10,000 basis,$40,000 FMV
Marketable securities: $35,000 basis; $30,000 FMV
What are the tax consequences to Southern Electric Corporation?

Pursuant to a Complete Liquidation,Southern Electric Corporation Distributes the Following