Posted by John Merchant on February 24, 2009 at 18:33:19:
In order to keep title clear your S Corp probably will need to deed the property to you, then you can deed to your buyer as needed.
Any local title/escrow co can do this deed for you and tell you what tax ramifications will be.
Want to close corporation owning Real Estate? - Posted by Sean
Posted by Sean on February 10, 2009 at 17:52:57:
I am trying to find out information on how to legally close my S Corporation in NJ to eliminate corporate taxes. I only have one single family rental with this corporation and would like to just have it on my personal taxes. I carried over the losses from the corporation to my personal. Will I have to pay taxes to transfer the house to my personal taxes? Do I need to see an accountant and an attorney?