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A taxpayer received a nonliquidating distribution of a building from an active business. At the...

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Accounting

A taxpayer received a nonliquidating distribution of a building from an active business. At the date of distribution, the tax basis of the building was $50,000, and the fair market value was $65,000. The building was not subject to a mortgage liability. What is the taxpayers basis in the building if the distribution was received from a C corporation, and what is the taxpayers basis if the distribution was received from a partnership?
Corporation: $50,000; partnership: $65,000.
Corporation: $65,000; partnership: $50,000.
Corporation: $50,000; partnership: $50,000.
Corporation: $65,000; partnership: $65,000.

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