For items 4 through 6 select the correct amount of gain or loss recognized by Plumtree Corporation on the liquidating distributions of property to shareholders. An amount may be selected once, more than once, or not at all.
Selections
A.$0
D.$5,000
B.$2,000
E.$6,500
C.$3,000
F.$35,000
5.What amount of loss will be recognized by Plumtree on the liquidating distribution of equipment to Pamela?
5. (A) Although a liquidating corporation must recognize gain on the distribution of appreciated property to minority shareholders in a Sec.332 liquidation, no loss can be recognized.
