Good afternoon.  I have an 1120S single shareholder business. 

The notes the business had were taken over by another business.  I have sold those assets for the amount of the notes taken over.  The shareholder included in this take over other assets.  How do I treat these assets that were assumed in the note takeover? Do I treat all the assets as a part of the take over even though they didn't technically get anything for them?  Can I enter the date of take over with no sale?