If the company has been dissolved you will need to restore the company before applying for liquidation If you’re a director of a company that has gone into insolvent liquidation, you’ll be banned for 5 years from forming, managing or promoting any business (including companies) with the same or similar name to your liquidated company.
There are 3 exceptions that allow you to reuse a company name and these are outlined in section 7.
Your basis increases and decreases over the years for required adjustments to arrive at adjusted basis -- the amount you'll use to calculate gain or loss after the liquidation.
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Instead, gain or loss is delayed until you sell the property.
Provided the liquidation terminates your entire interest in the partnership, your tax basis in the distributed property is equal to your adjusted basis in the partnership interest minus the cash distributed to you.
As a result, the tax effects of a partnership that makes liquidating distributions only impacts the partners who receive them.
To be taxed as a liquidating distribution, however, a partner's interest in the partnership must terminate.