Liquidation of S Corporations: Mastering Tax Implications of Liquidating Distributions
Case Study on Planning, Calculations, and Property Dispositions
Recording of a 110-minute CPE webinar with Q&A
This webinar will delve into a case study on the planning, tax calculations, property dispositions and dissolution filings required to liquidate an S corporation. The panel will provide a briefing on the general rules stated in IRC Section 1371 tying liquidation rules back to those applying to C Corps, detailing the gain/loss on distributions in exchange for stock, and outline two-three scenarios illustrating the rules in action.
- Rules for sale or other distribution of assets in connection with liquidation of an S corporation
- Tax issues regarding character and timing arising from common transactions in a dissolution or liquidation
- Case study illustrating liquidation of S Corp
The panel will discuss these and other key issues:
- What are the rules for recognizing income and losses in year of liquidation of the S corporation?
- How does the S corporation report liquidating distributions of installment receivables and other property?
- How do the S corporation and the shareholders report distributions of encumbered property, including situations where the debt exceeds the value of the asset distributed?
- What are the ramifications to shareholders after liquidation regarding basis, payment of claims against the corporation and transferee liability?
Robert W. Jamison, CPA
Mr. Jamison focuses on taxation of closely held businesses, principally sub-chapter S corporations and their... | Read More
Mr. Jamison focuses on taxation of closely held businesses, principally sub-chapter S corporations and their shareholders. He also provides guidance in the areas of taxation of partnerships, limited liability companies and C corporations, as well as the owners thereof. He is a published author on tax topics, and has written extensively on S Corporations.Close
Leslie Ellen Boyd, CPA, MST
Ms. Boyd has experience with C corporation, S corporation, partnership, and individual income taxation, and has... | Read More
Ms. Boyd has experience with C corporation, S corporation, partnership, and individual income taxation, and has significant experience with tax provision preparation and documentation of tax positions. She co-authored a CPE seminar on partnership taxation, focusing on the effects of sales, exchanges, and distributions on partner basis adjustments.Close
Lowndes Drosdick Doster Kantor & Reed
Ms. Wilson concentrates her practice on federal tax planning and structuring and represents clients in a wide variety... | Read More
Ms. Wilson concentrates her practice on federal tax planning and structuring and represents clients in a wide variety of complex federal tax matters, with a particular emphasis on pass-through entities such as partnerships, S corporations and real estate investment trusts. Specifically, she focuses on advising clients on the formation, operation, acquisition and restructuring of pass-through entities.Close