Dissolving a C Corporation

Sandy123 · #1 (**permalink**) 10-05-2010, 05:46 PM

What happens to liabilities of a C Corporation when the company is disolved and has no remaining assets? How are the written off? Are they considered a gain?
Thanks

TaxGuru · #2 (**permalink**) 10-06-2010, 01:11 PM

Generally, speaking losses from the dissolution of a C corporation are subject to capital loss limitations of $3,000 per year. But, there are exceptions to this rule. Please refer to the following links below.

http://www.asktaxguru.com/4336-there...-occurred.html

http://www.asktaxguru.com/4347-what-...244-stock.html