Snipe Corporation, a Calendar Year Taxpayer, Has Total E

Snipe Corporation, a calendar year taxpayer, has total E & P of $800,000. During the current year, Snipe makes property distributions to Tracy (the sole shareholder) as follows: ​
As a result of these distributions:

A) Snipe Corporation must recognize a gain of $30,000 and no recognized loss.
B) Snipe Corporation must recognize a gain of $30,000 and recognize a loss of $10,000.
C) Snipe Corporation recognizes neither gain nor loss.
D) Tracy will have a basis of $100,000 in the stock investment and $270,000 in the land.
E) None of the above.