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Hi from just answer. I'm PDtax. I will assist.
A new owner can use those losses, but they are often subject to limitations when a new owner takes control.
IRC 382 limits the NOL usage to the pre change loss times the long term rate, which these days is low. At 3%, you might be limited to $400,000 per year in useful losses.
Hope that helps. Positive feedback is appreciated. I'm PDtax.
Contributing appreciated property won't work. One moment...
IRC 351 requires gain recognition for transfers of appreciated property unless you meet their control rules.
I've answered your original question and follow-ups, but I can't provide what to do with a loss corp for the price posted.
Thanks for asking at just answer. Positive feedback for what I did will be appreciated. I'm PDtax.
My apologies if we misunderstood each other. I answered the question and follow up, but you already to want planning about what to do, which was not your question.
Sorry we did not meet in the middle. It happens sometimes.