This question asks "During or subsequent to this tax year, but before the filing of this return, did the corporation dispose of more than 65% (by value) of its assets in a taxable, non-taxable, or tax deferred transaction?"
Two questions:
1 - what is purpose of this question? If you answer yes then what does that trigger or factor into? the instructions don't really say anything on this question.
2 - If corp had significant crypto sold during year and if large enough in value to meet that 65% threshold, it seems like the correct answer would be yes but like with everything crypto it feels a bit grey/uncertain
Thanks in advance!
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Considered a liquidation (partial), but this is referring to business assets (including the likes of cash) and not portfolio investments.
Considered a liquidation (partial), but this is referring to business assets (including the likes of cash) and not portfolio investments.
Thank you!
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