I know there is something to stop this but, I inherited a property in the name of an s-corp. Can I sell the property by simply tranfering the corperation to a new owner/shareholder(for a hefty fee of course) to prevent the headaches and taxed of selling a property? Like I said I know uncle Sam would never let it be that easy, so how do they prevent this? Or do they?
You pay tax on the difference between the sales price of the corporate shares and your basis in the shares.