I want to know if I can sell a nonprofit assisted living if i had donated property to this entity. It has had no activity since i started it. I personally donated the property to avoid paying additional capital gains taxes on my home that i sold in 2017. I can’t follow thru with the business now. I want to personally sell it on my behalf. I understand that the IRS will come after me to pay that plus penalties I’m sure. I’ve been told, however, that I can’t sell a nonprofit entity and keep the proceeds for myself.
