I have an S-Corp customer that is not selling the business but only selling the land and building.  The land is in the S-Corps name and the building over time has been being depreciated. I know basis is cost + improvements - depreciation.

Does the shareholders basis in the company affect his taxes in any way?  Or no because he is not selling the company only closing the company and selling the assets.

Yes I have sort of asked this before but deleted as things changed. 

Thank y'all for you time.