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Hi. Follow up question. Remaining shareholder ownership percentages get readjusted. But no basis step up for either correct? Since no consideration granted for ...
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Ah yes of course. Percentages get readjusted to 85-15. Reallocation as of redemption date. Thank you
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Thank you. Can you clarify- what do you mean by pcts?
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I have 3 shareholders in an S corp - A, B, and C. Shares of A are being redeemed out by the corp. Do the remaining shareholders B & C have a taxable event becau...
