Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Lacerte Tax
- :
- Lacerte Tax Discussions
- :
- 1244 stock
1244 stock
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
UncleWillie
Level 1
02-18-2021
02:44 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I have a dental corporation client that retired at the end of 2020. The balance sheet, on the very last day of business appeared as such.
Common Stock $ 1,000.00
Paid-in-Capital(from inception) 27,922.70
Retained Earnings ( 28,922.70)
The value of the corporation is zero, 100% worthless.
Assuming all of the qualifications for deducting 1244 stock were met previously,
what would the 1244 stock loss be?
Any guidance would be appreciated.
Uncle Willie
Labels
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
