I was a shareholder of a S-Corp. The S-Corp closed. All the shareholders left or were bought out by me.
this seems like a contradiction. if the S-Corp closed there are no more shareholders (state law would dictate what needs to be done to liquidate a corporation) . we can't tell if the buyouts were before or after "closing the S-Corp"
it is further confusing since you could have bought out some or all of the other shareholders before or after liquidating - different tax consequences.
another issue is the improvements made by the corp to property it did not own. we can't see the lease agreement, but if the lease terminated the property would revert back to the owner. then you no longer have property that can be depreciated. the un-depreciated cost would be written off as loss on abandoned property.
this is a situation where competent tax help is required. there is just too much missing info.
