An Scorp I was 25% owner of turned all assets over to a new 501(c)3 org. How do I show that? As a business loss or charitable deduction?

[janebnorton]

We started in 2012, and turned over the company to the non-profit on 10/20/16. I have a k-1 that shows a profit. We didn't get a final K-1 yet. We ended with a valuation of $69940. We left $1147 in the bank to pay for end of year expenses.

[h-derwin · Accepted solution]

Has my fedirail income tax been sent in all.

[janebnorton]

Not sure what you mean by that. The company's is probably done, I'm doing my personal taxes now.