Question: estion 4 ( 1 point ) Saved lon - liquidating property distributions: which statement is faise? When the basis of distributed property is less than

estion 4(1 point)
Saved
lon-liquidating property distributions: which statement is faise?
When the basis of distributed property is less than its fair market value, the distributing corporation recognizes gain.
When the basis of distributed property is greater than its fair market value, the distributing corporation does not recognize loss.
When the basis of distributed property is greater than its fair market value, a deficit may be created in E

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