topic Capital gain Transfer ownership from my corp to self in Deductions & credits

Capital gain Transfer ownership from my corp to self

orchid6856 — Tue, 24 Feb 2026 07:20:44 GMT

Hello ,

I have owned a property since 2015 which was recorded under my corporation .

Last year I closed out the corporation and transferred the property ownership to my personal name .

The question is , if I sell it now , do I pay capital gain taxes?

Re: Capital gain Transfer ownership from my corp to self

pk — Wed, 20 Sep 2023 19:42:30 GMT

@orchid6856 ,

(a) A corporation bought a property / asset in 2015 for US$ X -- Basis on the books US$ X

(b) 2022, the corporation was closed --- the property/asset with a basis of US$Y ( depends on the use and FMV at the time of closing of the corp.) was transferred/ sold to the owner of the corp. for FMV The corp books were closed , final return filed

Your holding period starts from the day the transfer of ownership was completed. ---- short term or longterm will determine whether you get ordinary or capital tax treatment. The period the asset was held by the C-Corp does not enter into this picture ( even if you were the owner off the C-Corp.

Your gain / loss is determined based on the acquisition/transfer basis -- generally will be FMV on the date of transfer --- C-Corp would not have sold/ transferred at below FMV ( or the difference would be counted as gift ( ??? ) .

Does this help ?

Re: Capital gain Transfer ownership from my corp to self

AmeliesUncle — Fri, 22 Sep 2023 16:37:26 GMT

To simplify pk's great answer:

(1) You/the corporation should have ALREADY paid capital gains when it was transferred to you (the gain from when it was purchased, to when it was transferred to you). If that was not done, you will need to correct that.

(2) When you sell the property, any capital gain is based on the gain from when it was transferred to you, to when you sell it.