I own Company A, Inc and Company B, LLC (Single Member). Company A sells a land asset to Company B for $300k. The settlement statement reflects a $50k credit from Seller (Company A) to Buyer (Company B). I can't reduce the purchase price to reflect it as a gift of equity because the cost basis must be accurate. The $50k is not a loan or investment. My gut tells me to reflect it as a gift income. Is this correct?
