During the current year, Zion Corporation distributes to its shareholder Moses $40,000 in cash and land with a $80,000 FMV. The land has a $27,000 adjusted basis (for both taxable income. What is the recognized gain or loss for Moses upon receiving the land?
A) $13,000 gain
B) $13,000 loss
C) $53,000 gain
D) $53,000 loss