Form 1120 Schedule K Line 17

[Jack7000]

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!

[Anonymous_ · Accepted solution]

Considered a liquidation (partial), but this is referring to business assets (including the likes of cash) and not portfolio investments.

[Jack7000]

Thank you!