Liquidating distribution to shareholders


05-Aug-2020 03:26

Except as provided in subparagraph (B), that portion of the distribution which is not a dividend, to the extent that it exceeds the adjusted basis of the stock, shall be treated as gain from the sale or exchange of property.This corp is new to me - but I have worked with the shareholders individually and to my knowledge only one dividend has been paid, a 1099-DIV was prepared and distributed.This means that you may have a gain or loss to report on your return.Gains and losses are calculated as the difference between your tax basis in the stock exchanged and the overall fair market value of the distribution you receive, which is treated as the gross proceeds of the deemed stock sale.I mostly work with S-corp and partnerships - basis calculation for C corp stock is the same?I think I am making this more complicated than needs be?Liquidating distributions also has tax implications for the corporation that may need to be reported to the Internal Revenue Service on the company's final return.If you own shares in a corporation that makes liquidating distributions to you, the IRS treats the transaction as a sale or exchange of your stock.

The tax treatment of liquidating distributions of debt to shareholders impacts the amount of gain or loss shareholders report on their tax returns.

In this situation, you calculate your gain or loss using ,000 as the gross proceeds -- the cash plus the car's value minus the outstanding debt on the car.



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