Section 751(b) - Spidell

Section 751(b)

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Message Board Section 751(b)

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      Anonymous
      Participant

      In a complete liquidation of a 3 member LLC, if Section 751(b) assets(Section 1245 property)are distributed proportionately(33.33% each)but the other non 751 assets are distributed disproportionately does this still cause Section 751 to come into effect? In other words if each member gets his/her proportionate share of the hot assets does it matter if the other assets are not distributed proportionally?

      Thanks

       

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