Under which section are gains required to be recognized as either the lesser of precontribution net gains or the excess of the fair market value of distributed property over the adjusted partnership basis?

Section $731$

Section $737$

Section $751$

Section $757$

How may S corporation shareholders increase their ability to deduct a corporate loss?

By loaning funds to the corporation

By guaranteeing a debt owed by the corporation

By receiving a cash distribution from the corporation

By selling assets to the corporation at fair market value

Which election may be made to allocate an S corporation's income based on its accounting methods following the termination of the S corporation election?

O Using the specific identification method to allocate income

O Changing the corporation's tax year

O Changing the corporation's accounting method

O Making a deemed distribution out of accumulated earnings and profits