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What is a closely held corporation for tax purposes
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lilian
Level 2
04-26-2022
01:38 PM
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What is a closely held corporation? Can you give the revenue ruling for self-rental property.?
Example:
An individual who owns a house or a building and rented out to a C-Corp which also own 100 % by this individual. Is this considered a self-rental?
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Terry53029
Level 14
04-26-2022
01:54 PM
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See link for closely held corp: https://www.law.cornell.edu/wex/closely_held_corporation.
Self rental: https://www.thetaxadviser.com/issues/2008/aug/avoidingtheself-rentaltrap.html.
