Video: Gain/Loss Realized and Recognized by Shareholders and Corporations

In this lesson, Nick Palazzolo, CPA, dives into the intricacies of tax consequences for both shareholders and corporations when it comes to contributions and distributions, whether they are liquidating or non-liquidating. Tackling the concept through a series of practical examples, Nick demonstrates how to calculate the tax gain or loss that is both realized and recognized in various scenarios involving C Corporations, like property contributions for shares and complete company liquidations. Through engaging explanations, Nick also illustrates how tax basis, fair market value, and liability considerations dictate the gains recognized by both shareholders and corporations, effectively equipping you with the accounting tools needed to handle these situations with confidence.