REG – Complete Liquidation

  • Creator
    Topic
  • August 26, 2019 at 5:55 pm #2659191
    Maggie
    Participant

    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?

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

Viewing 7 replies - 1 through 7 (of 7 total)
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  • August 28, 2019 at 12:09 pm #2663013
    bigstakk
    Participant

    I am curious as well.

    August 28, 2019 at 6:36 pm #2663832
    Maggie
    Participant

    Thanks

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

    August 28, 2019 at 7:45 pm #2663940
    Desmond
    Participant

    …

    August 29, 2019 at 8:35 am #2664465
    MO
    Participant

    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.

    August 29, 2019 at 8:37 am #2664468
    MO
    Participant

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

    August 29, 2019 at 9:29 am #2664612
    bigstakk
    Participant

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

    August 29, 2019 at 9:41 am #2664636
    MO
    Participant

    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.

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Viewing 7 replies - 1 through 7 (of 7 total)
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