Discussion:Liquidation of LLC taxed as Subchapter S
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(Difference between revisions)
| Revision as of 17:47, 16 February 2008 RoyDaleOne (Talk | contribs) (Yes, increases r) ← Previous diff |
Current revision Vickytown (Talk | contribs) (Thanks RoyDale.) |
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| You need to deal with the gain or loss on liquidation.}} | You need to deal with the gain or loss on liquidation.}} | ||
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| + | {{ForumReplyPost|UserID=Vickytown|Date=17 February 2008|Text=Thanks RoyDale.}} | ||
Current revision
Discussion Forum Index --> Advanced Tax Questions --> Liquidation of LLC taxed as Subchapter S
Discussion Forum Index --> Tax Questions --> Liquidation of LLC taxed as Subchapter S
| 16 February 2008 | |
| One member of a three-member LLC (Elected to be taxed as a Subchapter S in a previous year)bought out the interests of the other two members with outside money. Subsequently, the only asset was sold and the business closed. My question: Was this the purchase of stock from the other members? Any thoughts? Thanks | |
RoyDaleOne (talk|edits) said: | 16 February 2008 |
| Yes, increases remaining stockholder's basis in the S Corp.
You need to deal with the gain or loss on liquidation. | |
