Hello,

Sure would appreciate some help figuring this out:

NY C Corporation ABCD owns real property called BUILDING

ABCD has 4, 25% shareholders: A B C and D

A sells its share to X in year 1 for $10,000

B sells its share to X in year 3 for $40,000

C and D sell its share to X in year 10 for $20,000 each

(Summary: X has paid $90,000 in total over the years and owns 100% of the shares of ABCD)

X wants to move BUILDING out of the corporate ownership of ABCD and own it personally.

Each of the transactions above were at fair market value.

BUILDING has a current fair market value of $100,000.

How can X avoid creating a capital gains tax liability for either ABCD or himself?

Thank you