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The same rules apply for the exclusion: did they own it and reside in it for 24 months within the last 60 months before sale. None of the months need to be cons...
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When the money is given to the estate, is it being reported to the IRS in a 1099 or other? If you, then how to prove it is not taxable if you are reporting it?
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1099Q, all income and any basis left, no qualified expenses. Then the income will be taxed.
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Right. So the loss is the corp's and must be part of the loss allocated to all SH's. S corp's do not allow special allocations.
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First, how was the property contribution recorded? Two, it was stolen from the company, not the 1 shareholder.
