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The form is 8594 - asset acquisition statement, I put the wrong form number on my original post.The interest in the LLC (treated as an s-corp) was sold. The lan...
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Correct...the S-corp has a big hole. This will take some time to overcome. The stock was sold at $24k which is a personal capital gain to the shareholder.The -1...
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I agree, I cannot zero out the balance sheet.The treatment of the negative basis classified as a loan is more of my issue. In order to bring the AAA to zero it ...
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Hi Everyone!I have an S-Corp which sold with a contract date of 1/1/23. The stock was transferred as of 1/1/23.The single shareholder has distributions in exces...
