Liquidating real estate
In contrast, distributions of appreciated property by C corporations and S corporations are treated as though the property were sold to the shareholder at fair market value.Winthrop Realty Liquidating Trust, was formed to complete the liquidation of Winthrop Realty Trust, a Boston and New York-based real estate investment trust that was publicly traded on the New York Stock Exchange under the symbol “FUR”.
The tax consequences of distributions by an S corporation to a shareholder depend on the shareholder’s basis in the S corporation stock.
If some items need painting, repair or general cleaning, take care of it at this stage to maximize sale prices.
As you liquidate these assets, you'll also want a record of the marketing process, purchaser, and the amount received.
Inventory the assets your business owns and wishes to liquidate.
Your list should include a detailed description of each item, photograph, purchase information, condition, warranty certificates and repair records, if applicable.Our principal business activities are to dispose of the assets formerly held by Winthrop Realty Trust in an orderly fashion.Winthrop Realty Liquidating Trust K-1s will be available on March 15, 2018 at PM.To the extent that the shareholder has basis in the S corporation stock, distributions to the shareholder are tax free.