REG: Corp Liquidation – Appreciated property

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  • October 21, 2012 at 5:36 pm #174408
    Anonymous
    Inactive

    I’m confused with this particular topic ! Would someone care to clarify?

    Wiley says that if CORP Liquidates a property with Adj basis HIGHER than its FMV distributed, no loss is recognized (which is also the case in NON-LIQUIDATING distribution of property.

    But in Becker, it says “Corp recognizes Gain OR Loss on assets when liquidating.

    So which one is correct?

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