My parents -farmers- formed a corporation 40 years ago in Kansas. They placed the farm land in the corporation. Mom now owns the all the shares of the corporation. My understanding is that the corporation basis for the land is the original cost, which will result in large capital gains taxes if the corporation sells the property. Can she dissolve the corporation, placing the land back in her name so it will receive a stepped up basis at her death? Will dissolving the corporation result in unwanted taxes, or other pitfalls?