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  • Posted in: All Member Forum

    You need to separate ownership from the real estate via a distribution of the real estate to an LLC owned by the common owners, not the current S-Corp. That will create tax via a deemed sale and distribution, but paying tax is still better than the owners paying ...

  • Posted in: All Member Forum

    I think the issue with this transaction is the fact that gain is recognized on the real estate when it is distributed from the S corporation. Distributions of appreciated property from S corporations trigger gain recognition at the time of distribution, ...

  • Posted in: All Member Forum

    Hi Nathan,   There are no claims or threatened claims. The client wants to exchange an unused piece of land which is appreciated in value and if sold, would be subject to capital gains tax ( NOT Built in Gains Tax from the S Corp conversion of 19 years ...

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