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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

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

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.

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Highlighted
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.

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.

View solution in original post

0 Cheers