Capital Gains and Losses

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S-corp did NOT sell it's stock to another S-corp but sold a
S-corp did NOT sell it's stock to another S-corp but sold a business it operated and property's tangible assets such as Land/building/equipment. How is this reported on Form 1120s tax return?Seller S-… read more
taxmanrog
taxmanrog
Master's Degree
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I working for a new franchise restaurant and the owner and I
I working for a new franchise restaurant and the owner and I have been discussing how will this apply to your taxes?Capital to purchase and run the company came from the owner of $30,000 and $70,000 f… read more
Carter McBride
Carter McBride
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Father passed in 1983 left farm land in will to me but was
Father passed in 1983 left farm land in will to me but was to be for mother to live off for her life. Never titled to my name till she passed in 2017. Sold farmland how do I calculate Capitol gains fr… read more
levr
levr
Retired
Bachelor's Degree Equivalent
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Second opinion] I asked this question before but I will try
Second opinion] I asked this question before but I will try to make my question more clear this time. Taxpayer and his wife own 66% of a S Corporation. The remaining shareholders of the S Corporation … read more
levr
levr
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I am trying to sell my veterinary practice and I want to
I am trying to sell my veterinary practice and I want to figure out how to minimize the capital gains tax. I was told having the buyer put the money in a trust for me would help. Can you explain? … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,972 satisfied customers
How does a corporation wind down when it owns land? Can the
how does a corporation wind down when it owns land? Can the corporation deed the land to a partnership?Can the corporation and the partnership be the same owners?… read more
levr
levr
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My mother bought a house in 1976 for 70K She owned it until
My mother bought a house in 1976 for 70K She owned it until 2003 when she gave it to her 4 kids as an "outclaim deed of gift reserving life estate." The house had a market value of 400K in 2003. She p… read more
levr
levr
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I personally own stock in two small businesses (less than 5
I personally own stock in two small businesses (less than 5 employees, 40% in a C-Corporation and 80% in an LLC). I'd like to nest my stock ownership, so my LLC owns the 40% in the C-Corporation. Does… read more
taxmanrog
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When a company that has lost more than 8 million dollars
When a company that has lost more than 8 million dollars over the past 10 years in its books is sold to a private and profitable company, how much the buyer would earn by the write-down?… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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My husband and his first wife divorced 8 years ago. He bought
My husband and his first wife divorced 8 years ago. He bought her out of an investment property appraised at $265k that he had acquired before their marriage for @$90k. The two had refinanced during t… read more
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Doctoral Degree
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I have a client who owns an S-Corp. The S-Corp has a debit
I have a client who owns an S-Corp. The S-Corp has a debit payable to the prior owner of the business. The prior owner is going to cancel the remaining balance on the debit (approx $150k). Is this goi… read more
levr
levr
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I am needing an answer to the 2nd point asked the lawyer,
I am needing an answer to the 2nd point asked for by the lawyer, toward the bottom. Thank you. ______________________________ Attached is a fairly typical Triple Net Commercial Lease between the real … read more
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Is there any taxable gain in the year of a merger of a
Is there any taxable gain in the year of a merger of a stock? How is it reported in that year. How do you compute the new cost basis of the new stock?… read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
263 satisfied customers
1999 my Father and his new wife quit claimed their Property
1999 my Father and his new wife quit claimed their Property to a Life Estate back in 1999. He died 2 years ago, and we all just sold the property. Not so worried about the amounts, but the tax law sur… read more
levr
levr
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Bachelor's Degree Equivalent
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debtor owes on a valid promissory note and is or nearly
debtor owes on a valid promissory note and is or nearly illiquid. Related party transaction. Can debtor and creditor make a new deal wherein creditor will get a small percentage of net income from a s… read more
BK-CPA
BK-CPA
Bachelor's Degree
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I am 60% share holder in a family land corporation that my
I am 60% share holder in a family land corporation that my father holds 51% voting shares. My father has dementia and is being poorly controlled by a new wife. I seek separation from the corporation a… read more
levr
levr
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Bachelor's Degree Equivalent
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If an S Corp is going to complete a Stock Sale for $450,000
If an S Corp is going to complete a Stock Sale for $450,000 of a single stock to a buyer who will assume complete ownership of the company along with all assets, what can be expected in taxes? If the … read more
R. Klein, EA
R. Klein, EA
Enrolled Agent
Master's Degree
263 satisfied customers
When life insurance or annuity policies owned by a "C" corporation
When life insurance or annuity policies owned by a "C" corporation need to be revalued to CSV before disributing them in the process of a liquidation, are the proceeds ordinary income or capital gain?… read more
jgordosea
jgordosea
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