Defendants appeal from the judgment for plaintiff Selective Services, Inc.It sought costs as a prevailing party against all defendants. (AAA), entered into a contract for the sale of 20,000 Christmas tree stands for ,000. (plaintiff), assigning error only to the trial court's disposition of the parties' claims for costs and attorney fees. Plaintiff and defendant AAA Liquidation and Auction Services, Inc. Markley, Portland, argued the cause for respondent. Later that day, AAA stopped payment on the check and informed plaintiff that the stands were defective.
he shareholder consequences of a complete liquidation of an S corporation are governed by Secs. The dividend rules that otherwise apply to corporate distributions are not applicable to distributions in complete liquidation.If the shareholder assumes known corporate liabilities or receives corporate property subject to a liability (such as the distribution of mortgaged land), the amount realized is reduced by the amount of the liability (Ford, 311 F2d 951 (Ct. It appears that the adjusted basis of stock held in a liquidating corporation is adjusted for current-year passthrough items prior to determination of gain or loss from the receipt of the liquidating distributions (see Regs. The 2007 distribution is allocated the same as before.recognizes no gain or loss on Block 2 (,000 – ,000 basis) and has a remaining basis of ,000 in Block 2.This IP Address 1.135 has exceeded the maximum number of captcha solutions.Please consider signing up for a Pro Search or Pro API plan to continue using our website, or if you would like to purchase data directly please contact us via our contact page.