0
Can a corporation recognize a gain or loss in a complete liquidation?
Wiki User
∙ 10y ago
Yes, generally a corporation must recognize gain or loss upon a distribution of propoerty in liquidation, computed as if the property were sold to teh distributee shareholder at its fair market value. Code Sec. 336(a). The type of gain or loss recognized (e.g., ordinary, capital, Section 1231) depends on the nature of the property to the corporation, as well as the property's holding period.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
Can a C-corporation use its ordinary loss to offset capital gain?
A c corps capital gain is taxed as ordinary income so why couldn't you use an NOL to offset the gain?
Can a CDN corporation apply non capital losses against dividend income?
A CDN corporation can not apply non capital losses against dividend income it can only be used to reduce capital gain. There are rules and regulations that go along with this as well. You can not use capital gain to offset normal income.
If taxpayer have sec 1231 gain and sec 1231 loss in 2006 whether he should recognize sec 1231 gain in 2006 and sec 1231 loss in 2007 or vice versa?
Section 1231 gains and losses must first be netted together, then if there's a gain, it's a capital gain, but, if there's a loss, you can take it against ordinary income. The best of both worlds, wouldn't you agree? Kevin in Phoenix, Az.
How do you claim a demutualization membership payment?
From the IRS Tax Topic 430: If you elected to receive cash instead of stock in the tax-free reorganization, you are deemed to have received shares and then to have sold them back to the corporation (i.e., redeemed your shares). Generally this results in capital gain or loss reportable on Form 1040, Schedule D, Capital Gains and Losses. If you owned the policy for more than one year as of the date of the demutualization, the gain or loss is treated as long-term capital gain or loss. If you owned the policy for a year or less, the gain or loss is short-term capital gain or loss. So basically, you'll report the payment on Schedule D either as long- or short-term depending on how long you'd owned the original policy.
How to calculate capital gain tax?
If this is a business asset then you will have to use the 1040 tax form 4797 to report the transaction on. You will use the information that is on the 1099-B to report the transaction on your 1040 tax form. If this is personal property (non-business) and you have owned it for more than one year and it is sold at a gain. You will have a long term capital gain (LTCG) that will be taxed at the 0% to 15% maximum capital gain tax rate. The transaction will be reported on the schedule D of the 1040 tax form. When you complete the schedule D all the way through line by line the LTCG will be taxed at the 0% to 15% maximum capital gain rate. You will have to complete the schedule D worksheet on page 10 of the schedule D instruction book all the way through line 36 as that will be where the tax numbers will come from to go on line 44 of your tax return. For forms and instruction go to IRS gov website and use the search box for schedule D and you will find the instructions and form that you would use for this purpose.
In what year did Gladstone Investment Corporation - GAIN - have its IPO?
Gladstone Investment Corporation (GAIN) had its IPO in 2005.
What is the term used when a person sells his assets as a way to gain money?
capital gains
What is the market cap for Gladstone Investment Corporation GAIN?
As of July 2014, the market cap for Gladstone Investment Corporation (GAIN) is $196,716,367.94.
What is the symbol for Gladstone Investment Corporation in NASDAQ?
The symbol for Gladstone Investment Corporation in NASDAQ is: GAIN.
Where does a corporation gain separate legal entity in the History of American law?
what is a separate legal entity for a corporation?
What is one benefit in investing in corporation?
The benefit of investing in a corporation is stock ,because if you invest in stock shares then you can gain money when a stock goes up.The benefit of investing in a corporation is stock shares. Because if you invest in stock shares then you can gain money when a stock goes up.
What is one benefit investing in a corporation?
The benefit of investing in a corporation is stock ,because if you invest in stock shares then you can gain money when a stock goes up.The benefit of investing in a corporation is stock shares. Because if you invest in stock shares then you can gain money when a stock goes up.
What is one benefit for shareholders investing in a corporation?
The benefit of investing in a corporation is stock ,because if you invest in stock shares then you can gain money when a stock goes up.The benefit of investing in a corporation is stock shares. Because if you invest in stock shares then you can gain money when a stock goes up.
What is one benefit for shareholders of investing in a corporation?
The benefit of investing in a corporation is stock ,because if you invest in stock shares then you can gain money when a stock goes up.The benefit of investing in a corporation is stock shares. Because if you invest in stock shares then you can gain money when a stock goes up.
How can you recognize an early stages pregnancy in inseminated cows?
They do not come in heat and they gain weight
Can a C corporation use its ordinary loss to offset capital gain?
A c corps capital gain is taxed as ordinary income so why couldn't you use an NOL to offset the gain?
Can a C-corporation use its ordinary loss to offset capital gain?
A c corps capital gain is taxed as ordinary income so why couldn't you use an NOL to offset the gain?
