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smcallister
Level 2
December 29, 2023

Can a C Corporation stock sale file two 1120 tax returns in one year? One 1120 return for previous owners for Jan - Aug period. One 1120 return for new owners for Sept - Dec period.

  • December 29, 2023
  • 1 reply
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    IRonMaN
    IRonMaN
    Level 15
    December 29, 2023

    You only file one tax return.  The shareholders might have changed but it is still the same corporation.

    Slava Ukraini!
      S
      smcallisterAuthor
      Level 2
      December 29, 2023

      So are there special forms to establish the split between the stockholders (Sellers and Buyers).  I have to determine who is responsible for what taxes based on the periods of Jan - Aug and Sept - Dec. 

        IRonMaN
        IRonMaN
        Level 15
        December 29, 2023

        You said it is a C corp and they sold the stock.  If that is accurate, there is no split and the corporation itself pays the tax owed for the full 12 months.

        Slava Ukraini!
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