Florida law for transferring ownership - need advice

[Mary Joe]

Hello, can someone tell me what is the best way to transfer ownership of a property from a C corp to myself personally ?

I own 100% of the shares of the C corp. I own the property free and clear.

I understand about the tax implications, but right now just want to know the proper way to transfer ownership from the company to myself personally.

Just want to get some advice here before I speak to my attorney.

Thanks in advance.

[Steven Hamilton II]

@Mary Joe ,

The capital gain tax would be 200k.

To meet being a qualified dividend: You must hold it for

*When counting the number of days the fund was held, include the day the fund was disposed of, but not the day it was acquired.

The holding period is as follows:

• You must have held those shares of stock unhedged for at least 61 days out of the 121-day period that began 60 days before the ex-dividend date.
• For certain preferred stock, the security must be held for 91 days out of the 181-day period beginning 90 days before the ex-dividend date.

Previous money taken from the corp would be dividends/ return of capital.

The rental income would go to the C-corp and if 60% or more of the gross income is from passive activities you run into Personal Holding Company rules.

If you plan to hold the property for a VERY long time. It may be better to convert to an S-corp.