Dissolution of Alberta Corporation with no assets and large loan from single shareholder

[user17549413515]

How to proceed with dissolution or perhaps sale of shares of Corporation that has 80K in liability to single shareholder and zero in assets or cash? The company with current revenue will never be able to repay this shareholder. I'm looking for advice how to zero out balance sheet to dissolve this Corporation, or how to value this company and perhaps sell the shares with debt to interested 3rd party?

[Mike9241]

is this a Canadian corporation? then you'll need advice of a Canadian lawyer. This is an US income tax forum. valuation is beyond the scope of this forum. If a US corporation, properly dissolving it is a matter of state law of the state incorporation. from an income tax standpoint there is no requirement to zero out the ending balance. simply indicate the return as final.