A company is incorporated but has not been active for a couple of years .The owner wants to close the company down since it is just costing money for business taxes etc . There is an asset -a building .Can this building be shown at fair market value & then the loss claimed as a business investment loss on the shareholder's personal tax return ?

Do closing stocks appers in trial balance?

The trial balance shows the undepreciated value of the building & the purchase of the building was set up as a loan from shareholder .There has never been any income from this business from the start up . That is why the owner wants to close it down - all is happening is payment for property taxes each year .