absndiana
Level 1
12-07-2019
01:18 AM
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More details: The K-1s are also showing the gain on sale of the assets as taxable to the shareholders. I'm just confused on why the 100S is showing a taxable gain to the corporation for the sale as well as the shareholders.
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sjrcpa
Level 15
12-07-2019
01:18 AM
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CA S Corps pay tax. 1.5% I think - CA preparers correct me if I'm wrong.. Then the shareholders also get taxed on the K-1 income.
The more I know the more I don’t know.
Marc-TaxMan
Level 8
12-07-2019
01:18 AM
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on the GROSS!!!
