Which of the following transactions would be considered by the IRS to be a taxable sale of assets? Changing the form of business from:

Name: Which of the following transactions would be considered by the IRS to be a taxable sale of assets? Changing the form of business from:
Brand: Quizplus
Rating: 4.9 (48 reviews)

Question

Quizplus · Accepted Answer

When a corporation changes its form to an LLC, it is considered a taxable sale of assets by the IRS because the corporation is treated as liquidating its assets and distributing them to its shareholders.

Which of the Following Transactions Would Be Considered by the IRS