Skip to main content
Level 1
December 7, 2019
Solved

Death of cllient with a C corp? Taxpayer is Sole Stock owner in "C" Corp. How is income & exp recognized after date of death?

  • December 7, 2019
  • 1 reply
  • 15 views
No text available
This topic has been closed for replies.
Best answer by abctax55

By the C corp...same as always?

Who owns the stock may have changed hands, but nothing about the Corp does.

C-Corps are separate legal entities;  sale/purchase of stock - death of owners of the stock is irrelevant at the entity level.

1 reply

abctax55
abctax55Answer
Level 15
December 7, 2019

By the C corp...same as always?

Who owns the stock may have changed hands, but nothing about the Corp does.

C-Corps are separate legal entities;  sale/purchase of stock - death of owners of the stock is irrelevant at the entity level.

HumanKind... Be Both