Liquidating distribution for C Crop = FMV & Partnership = NBV…right?

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  • February 26, 2012 at 9:29 pm #167182
    jjm1181
    Participant

    Just checking…2 days before the exam and things are beginning to get jumbled together.

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  • February 26, 2012 at 9:32 pm #328375
    Anonymous
    Inactive

    Yes you are correct

    February 26, 2012 at 9:39 pm #328376
    jjm1181
    Participant

    But S corps use NBV…right?

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    February 27, 2012 at 3:59 pm #328377
    Anonymous
    Inactive

    thats my understanding I think the only exception would be if they were a C Corp prior as a S Corp had used up their AAA had prior E&P and therefore this was a dividend. Not positive though

    February 27, 2012 at 5:18 pm #328378
    KTE_CPA
    Member

    @jjm1181

    Hang in there. You are almost at the finish line. Good Luck!

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