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Land $($purchased by Acme as an investment$)$ EXHIBITS

Acme Company

Liquidating Distribution to $10$ Percent Owner

Pre$-$distribution basis in ownership interest $$300,000$

Distribution Information

Assets distributed:

Land $($purchased by Acme as an investment$)$

Abigail Adams, a calendar$-$year individual taxpayer, is a $10$ percent owner in Acme Company. In Year $1,$ Abigail received a

liquidating distribution from Acme Company. Information about the asset distributed to Abigail, Abigail's basis in her

ownership interest immediately before the distribution, and Acme Company's total liabilities at the time of the liquidating

distribution is provided in the exhibit above.

Using the information provided in the exhibit, calculate the amount of gain or loss recognized by Acme Company and

Abigail $($including flow$-$through income or losses, if applicable$),$ and Abigail's basis in the asset distributed, assuming that

Acme Company is: $1)$ a C corporation; $2)$ an S corporation; $3)$ a general partnership; and $4)$ a limited liability company

$($LLC$).$ Enter the appropriate amounts in the table below. Enter gains as positive values and losses as negative values. If

the amount is zero, enter a zero $(0).$

Acme Company is: $1)$ a C corporation; $2)$ an S corporation; $3)$ a general partnership; and $4)$ a limited liability company

$($LLC$).$ Enter the appropriate amounts in the table below. Enter gains as positive values and losses as negative values. If

the amount is zero, enter a zero $(0).$

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