Question: please include explanation Question 10 1 pts Oh Dried Fruit Corp. has had a valid S Corp election in effect at all times since its
Question 10 1 pts Oh Dried Fruit Corp. has had a valid S Corp election in effect at all times since its incorporation The Dried Fruit Corp stock owned one-third by Raisin and two thirds by Prune. All shareholders are US resident in Individuals. At the beginning of the current year, Raisin's basis in his shares was 554.000 and Pune's basis in her shares was $18.000. During them year, Dried Fruit Corp camed 5324,000 of net income from operations, Baltin's share a $100.000 Prune's share was $216.000. On December 31st, Dried Fruit Corp. distributed Graponcre real property having a fair market value of $108,000, and a basis of $72,000 to Raisin and Plumacre real property for market value of $216.000 mod abae of $198.000,to Prune How much gain does Prune recognize as a result of this transaction O $36.000 SO O $18.000 554.000
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