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    laurieann1 Posts: 1, Reputation: 1
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    Nov 19, 2013, 08:33 AM
    Foreclosure on business property
    If a business is closed due to foreclosure, how do you report liquidation of assets and liabilities? Does this pass to shareholder as loss. If cash received is this considered purchase of stock. Entity is a s corp at closure, but was previously a c corp, what happens to retained earnings prior.

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