During the year, C Corporation distributed land worth $30,000 to its sole shareholder, S.The corporation acquired the property five years ago for $50,000.C recognizes a loss of $20,000 on the distribution of the land.

Name: During the year, C Corporation distributed land worth $30,000 to its sole shareholder, S.The corporation acquired the property five years ago for $50,000.C recognizes a loss of $20,000 on the distribution of the land.
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The Answer is False

During the Year, C Corporation Distributed Land Worth $30,000 to Its