Business & farm

Thank you for the response.

I appreciate the link.  I had actually seen that same post during my research, and it helped clear up some of my questions, but I still don't understand how to accomplish the distribution of the property in exchange for shares in TurboTax.  Where in TurboTax does one record the distribution of the assets to the shareholders and the subsequent "return" of their shares?  

The Business Property Disposal section doesn't explicitly provide an option for distributing assets to  shareholders.  How should the disposal of the assets be recorded in TurboTax, and then, is there somewhere in TurboTax that one is supposed to record something having happened to the shares as a result?