Thanks so much. May I expand question?  Deferred Tax Asset is what I was thinking ( just heard of it). Our fully depreciated primary asset (charter boat) and all other assets to be sold resulting in big C.G. Sole member retiring. So I'm wondering if any way this deferred tax asset can be used to reduce C.G.    

Optimistic example to calculate C.G:  Sales price $2million less B.S. assets of Deferred Tax Asset $400k and misc assets $100k = C.G. $1.5M. I trust this thinking is crazy thinking. BTW the suspended loss is of course $400k. A colleague recommended this approach but I highly question it. I think the only way to handle this scenario is to include a non-compete clause @ $400k. Then this would be ordinary income. Consequently the $400k suspended losses could offset this. Any input is most welcome.  THANK YOU!!