Question: 17. If this distribution were nonliquidating, Reeds recognized gain or loss on the distribution would be a. $11,000 gain. b. $ 9,000 loss. c. $

17. If this distribution were nonliquidating, Reed’s recognized gain or loss on the distribution would be

a. $11,000 gain.

b. $ 9,000 loss.

c. $ 1,500 loss.

d. $0.

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