jfjefts
Level 3

C-Corp owns land and a house in New York. Basis is $100,000 and fair market value is $150,000. If shareholders dissolve the Corp and transfer assets to themselves, can it be done without creating a taxable event ?

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IRonMaN
Level 15

No.  The property is treated like it was sold for the FMV.


Slava Ukraini!
sjrcpa
Level 15

Deleted


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