Felicia owns stock of Huff Corporation that she purchased several years ago for $10,000. Huff has $250,000 of accumulated earnings and profits. What are the tax consequences to Felicia on the liquidation of Huff Corporation in the following alternative situations:

a. Huff distributes $5,000 in 2018 and

$15,000 in 2019 to Felicia in exchange for all of her stock?

b. Huff distributes $8,000 cash and an installment obligation with a face amount and fair market value of

$12,000, payable $4,000 per year for three years with market rate of interest.

The installment obligation was received by Huff four months ago after the adoption of the plan of liquidation, on the sale of a capital asset.

c. Would the result in part

b. be any different if the stock of Huff were publicly traded?