[startupcfo]

You are a c corp with land. The land has:

Basis: 100K

FMV: 200K

Liability attached to land: 250K

What happens if the c-corp distributes the land out? Is the gain 100K or is it 150K?

BEC - 87 | 02/28
REG - 70 | 06/10, REMATCH | 08/30
AUD - XX | 09/10
FAR - XX | 12/10

[TBBG]

150k. If the liability is greater than the fair market value, you compute the difference of liability-basis.

Audit 86
BEC 75
FAR 82
REG 93

[Author]

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