Assumptions for problems $(1)$ through $(10)$: A owns half the common stock of X with an adjusted basis of $$40,$ and Y owns the other held of X common stock with an adjusted basis of $$100.$ X$$s current E&P from current $$year income and expenses$/$losses $($before consideration of the events described in $(1)$ through $(10)$ below$)$ is $$94,$ and X has no accumulated E&P$.$ X used the accrual method, all taxpayers are on the calendar year, and section $1059$ does not apply. Assume that the corporate tax rate is $34\%,[$Hint: First derive an $$interim$$ E&P based on the events described in each problem, but not including the downward for the distribution itself$].$

$1.$ X distributes, in kind, its long$-$held AT&T stock with an adjusted basis of $$40$ and FMV of $$100$ to Y; X also distributes other long$-$held AT&T shares with an adjusted basis of $$60$ and FMV of $$100$ to A$.$ What are the results of A$,$ Y$,$ and X$?$ Alternative: The basis of the stock distributed to A is $$120.$

$2.$ Suppose that each block of AT&T is the basic factor of $(1)$ above was subject to $$50$ non$-$recourse liability or$,$ alternatively, a $$120$ non$-$recourse liability.

$3.$ X leases some rental property that it owns to T$,$ and T agree to pay the annual rent of $$60$ directly to X$$s shareholders, A and Y$.$

$4.$ X sells an apartment building that it owns to A and Y jointly for $$100.$ The property has a basis of $$100$ and a value of $$200.$

$5.$ A is the sole shareholder of X$,$ which advanced cash to A from time to time over a period of years upon an open account maintained on the corporate ledger as $$A$/$R shdr$.$ The amount totals $$100,000,$ including the interest at $6\%,$ which the bookkeeper has accrued annually. No repayments have been made. Are there any tax consequences to A or X$?$