You can do it, but it is never advised because to get it out almost always

Sign up, and you'll be able to vote in polls. Sign up

Report problem with this ad

Sep 20, 2024
9:40:52am

Chester Copperpot All-American

You can do it, but it is never advised because to get it out almost always

results in a taxable transaction.

Report problem with this ad

Chester Copperpot

Previous username: Chester CobberPot
Bio page: Chester Copperpot
Joined: Jun 10, 2005
Last login: Sep 20, 2024
Total posts: 22,121 (682 FO)

Report problem with this ad

Messages

Author

Time

CB accountants: In an S corp, if two shareholders want to exchange

SV72 Sale

9:16am

You put RE in an S-Corp?

RexIdaCoug

9:28am

Yes, they do. Is that not allowed?

SV72 Sale

9:33am

You can do it, but it is never advised because to get it out almost always

Chester Copperpot

9:40am

That and no step up in basis

RexIdaCoug

10:48am

You would still get a stepped up basis on the shares, but yes it makes obtaining

VenturaCoug

11:49am

RE: You put RE in an S-Corp?

Tricky

10:25am

You really need to sit down with your accountant/tax preparer.

vacoug87

10:14am

If FMV of the property is greater than its tax basis, you will trigger income

VenturaCoug

10:22am

I believe in this scenario, FMV is less than tax basis

SV72 Sale

10:37am

I’m honestly not sure on what the right answer is here.

VenturaCoug

12:13pm

Thanks! I really appreciate you taking the time to share your

SV72 Sale

12:19pm

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad