LO$\mathrm{.}6,7,8$ Tiger, Inc., a calendar year S corporation, is owned equally by four shareholders: Ann, Becky, Chris, and David. Tiger owns investment land that was purchased for $$160,000$ four years ago. On September $14,$ when the land is worth $$240,000,$ it is distributed to David. Assuming that David$$s basis in his S corporation stock is $$270,000$ on the distribution date, discuss any Federal income tax ramifications. Ignore the $20\%$ QBI deduction.