USA Dissolving an S corp


Joined
Jun 20, 2018
Messages
1
Reaction score
0
Country
United States
Hi, thanks in advance for the help here. I am thinking about dissolving my S corp and have a question about assets. If on my books I have say 100K worth of assets but when it comes time to liquidate the assets, I only can get 20K for it all, am I able to just write off the difference and call it a loss? I'm just beginning to realize the difference between what my books say I have in equipment vs. what I think I actually have. For years I have been using Sec 179 to deduct equipment used in the manufacturing of my product so technically (I guess) it's all been deprecated already but I anticipate a large discrepancy when all is done.

Thanks

Charles
 
Ad

Advertisements


Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

USA S corp shareholder basis 0
USA N/P in dissolved S-corp? 2
USA S corp shareholder basis calculation 0
Consquenses of not Dissolving a Del Corp 1
S CORP 1
USA S-Corp 0
S-Corp 2
S-Corp 0

Top