Select the best answer. According to lan Redpath and Brian O'Sultivan, which of the following is correct regarding a current distribution from an S corporation? A. The taxpayer receiving the distribution cannot take a loss on the distribution. B. The distribution must be reported as taxable income. C. The distribution must be reported as a short-term capital loss. D. The distribution must be reported as a long-term capital loss. According to lan Redpath and Robert Lickwar, what is reasonable compensation for an owner employee of an 5 corporation, comparing compensation to expenses and/or distributions? A. Depends on the circumstances B. One-third, one-third, one-third C. 70/30 D. 80/20 According to lan Redpath and Brian O'Sultivan, which of the following pertains to disguised sale rules regarding sales of property to a partnership? A. IRC Section 707 B. IRC Section 731 C. IRC Section 736 D. IRC Section 1065 Select the best answer. According to lan Redpath and Robert Lickwar, which of the following is proposed in the Wyden bill? A. Classifying all distributions to partners as taxable income B. Elimination of guaranteed payments to partners C. Elimination of cash distributions to partners D. Making guaranteed payments to partners mndatory