itonewbie
Level 15
12-07-2019
08:12 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
What do you mean "walk away from the company"? This is an s-corp. The taxpayer still has shares held in that s-corp. If the taxpayer establishes stock or debt basis in future years, those suspended losses may still be allowed. If the taxpayer disposes of the shares, those suspended losses will be gone.
---------------------------------------------------------------------------------
Still an AllStar
Still an AllStar