CR91

that is some great info. thanks for breaking it down for me. hope i didnt take up your time

Not a problem, assuming that I'm right.

I'm an accountant, and certain fundamentals apply consistently, but I'm not a CPA (and esoteric rules change constantly). In the real world I wouldn't feel comfortable filing a complicated S-corp liquidating tax return. In answering this I'm assuming both that your class is primarily concerned with fundamentals, and that that there isn't some odd scorp "GOTCHA" rule regarding liquidations that I'm missing....

Such as "ha ha , trick question, there is no such thing as a gain/loss on an s-corp liquidation". That's why I say check your text book.

Time not a problem. I love this site, but I'm just talking about taxes instead of football. It's all good.