[Maggie]

Does anyone know how to handle a complete liquidation of a corporation if the corp liquidated property (appreciated and non-appreciated) to a 100% owner?

Does the stockholder have any gain or loss? Does the Corporation?

Almost there

AUD- 74 (2012), 72 (4/20/16)
BED- 7/6/16
REG- TBD
FAR- TBD

[bigstakk]

I am curious as well.

AUD - 81
BEC - 87
FAR - 80
REG - 82

______________

Ethics Exam - 90%
Licensed CPA in CA

[Maggie]

Thanks

Almost there

AUD- 74 (2012), 72 (4/20/16)
BED- 7/6/16
REG- TBD
FAR- TBD

[Desmond]

…

There is no secret ingredient

Desmond

[MO]

I'm not 100% sure on this but I think they both recognize gain and/or loss. Corp loss or gain would be capital, 1231, or ordinary. Shareholder should be capital. I think you're thinking of “Closely Held Corporation?”…Personal Holding must meet 60% PHC income test.

AUD - 89
BEC - 89
FAR - 83
REG - 80

"Real business is done on paper" -- Michael Scott

[MO]

The exception would be if the owner is also a corporation.

AUD - 89
BEC - 89
FAR - 83
REG - 80

"Real business is done on paper" -- Michael Scott

[bigstakk]

I think it’s probably inappropriate to discuss this topic at this time.

AUD - 81
BEC - 87
FAR - 80
REG - 82

______________

Ethics Exam - 90%
Licensed CPA in CA

[MO]

I'm kinda confused when it's non-corp owner, if it matters. If it's corp I know for sure the 80% rule applies.

AUD - 89
BEC - 89
FAR - 83
REG - 80

"Real business is done on paper" -- Michael Scott

[Author]

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