Orange Corporation distributes property worth $300,000,basis of $340,000,to a shareholder in a distribution that is a qualifying stock redemption.The property is subject to a liability of $110,000,which the shareholder assumes.The basis of the property to the shareholder is:
A)$190,000.
B)$230,000.
C)$300,000.
D)$340,000.
E)None of the above.

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The Answer of Orange Corporation distributes property worth $300,000,basis of $340,000,to a shareholder in a distribution that is a qualifying stock redemption.The property is subject to a liability of $110,000,which the shareholder assumes.The basis of the property to the shareholder is:
A)$190,000.
B)$230,000.
C)$300,000.
D)$340,000.
E)None of the above.

Orange Corporation Distributes Property Worth $300,000,basis of $340,000,to a Shareholder