Question: Enter problem statement appropriate input type, and other instructions here ABC Corporation (ABC owns 90% of the single class of stock in Subsidiary Corporation The

 Enter problem statement appropriate input type, and other instructions here ABC

Enter problem statement appropriate input type, and other instructions here ABC Corporation (ABC owns 90% of the single class of stock in Subsidiary Corporation The other 10% is owned by Rosie an individual ABC basiinit Subsidiary stock is $ 200.000 and Rosie's basis is 590,000. Subsidiary distributes property A having an adjusted basis of $150,000 and an FMV of $720,000 to ABC, and property with a FMV of $20,000 and an adjusted basis of $60.000 to Roble in a liquidating distribution Subsidiary had $10 million of earnings and profits the date of liquidation What gain or los must Subsidiary recognize on the liquidating distribution ? OA $20,000 gain on Property OB. No gain on the Property Aor OC. 20,000 gain on Property and $570,000 gain on Property A OD 5670.000 gain on Property A

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