Global Corporation distributes property with a basis of $22,000 and a fair market value of $30,000 to Arturo in complete liquidation of the corporation.Arturo's basis in the stock is $14,000.What must Arturo and Global report as income upon the liquidation of Global?
$\begin{array}{ll}
\text { Arturo } & \text { Global } \
a.\$ 16,000 & \$ 8,000 \
b.\$ 16,000 & \$-0- \
c.\$ 30,000 & \$-0- \
d.\$ 30,000 & \$ 30,000
\end{array}$

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The Answer of Global Corporation distributes property with a basis of $22,000 and a fair market value of $30,000 to Arturo in complete liquidation of the corporation.Arturo's basis in the stock is $14,000.What must Arturo and Global report as income upon the liquidation of Global?
$\begin{array}{ll}
\text { Arturo } & \text { Global } \
a.\$ 16,000 & \$ 8,000 \
b.\$ 16,000 & \$-0- \
c.\$ 30,000 & \$-0- \
d.\$ 30,000 & \$ 30,000
\end{array}$

Global Corporation Distributes Property with a Basis of $22,000 and a Fair