S Corporation Liquidation" Please respond to the following:

S Corporation Liquidation" Please respond to the following:Analyze the various liquidation rules that are applicable to S corporations, differentiating these rules from those applicable to C corporations. Illustrate the impact to tax liability under the various approaches. Discuss the impact to the shareholder’s stock basis when a corporate gain exists within an S corporation. What advice would you provide to a client in this situation to minimize any tax obligations? Provide support for your rationale.

The gain or loss on the sale or distribution of corporate assets is determined by deducting thecost basis that has been adjusted for depreciation from the amount received in a sale or the fair...