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How do i transfer ownership in an s corp? Owner at beginning of year owned 100% and in February he transferred 60% to his wife and and 20% each to his two sons

carolp9300
Level 1
 
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IRonMaN
Level 15

Click on the "where do I enter button" and enter ownership allocation.  You may also need to prepare a couple of gift tax returns.

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)

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IRonMaN
Level 15

Click on the "where do I enter button" and enter ownership allocation.  You may also need to prepare a couple of gift tax returns.

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)

View solution in original post

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