There are too many details unknown at this point, and a forum such as this is not conducive to collect the necessary information and then provide a response.
Yo...
As far as providing the former owner(s) with "anything", this depends on when the transaction occurred.
The former owner(s) may need to be provided with a final...
A few additional comments:
Based on your initial question(s), I believe you should seek some tax advice as to the best entity structure for your needs and goal...
@Jspowell99
The answer to your last question is "no".
When MFS you are treated as one taxpayer and must split the mortgage interest limitation you are entitled ...
In addition to what has been posted:
As you stated, in general, C corporation NOL's cannot be used during the S election period
An exception to this, is if the...