The stock in Black Corporation is owned by Sam and Susan,who are unrelated.Sam owns 70% and Susan owns 30% of the stock in Black Corporation.The following assets are to be distributed in complete liquidation of Black Corporation:
a.What gain or loss would Black Corporation recognize if it distributes the cash, inventory, and equipment to Sam and the land to Susan?
b.What gain or loss would Black Corporation recognize if it distributes the cash, inventory, and land to Sam and the equipment to Susan?

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The Answer of The stock in Black Corporation is owned by Sam and Susan,who are unrelated.Sam owns 70% and Susan owns 30% of the stock in Black Corporation.The following assets are to be distributed in complete liquidation of Black Corporation:
a.What gain or loss would Black Corporation recognize if it distributes the cash, inventory, and equipment to Sam and the land to Susan?
b.What gain or loss would Black Corporation recognize if it distributes the cash, inventory, and land to Sam and the equipment to Susan?

The Stock in Black Corporation Is Owned by Sam and Susan,who