Crow corporation has been a calendar year S corporation for several years On August 14, 2008, one of its shareholders sells her stock to Kite Corporation Result What if Kite Corporation (a C Corp) buys all the stock of Crow Corporation (S Corp) for $10 million, and Kite and the owners of Crow make ...

When the sale is made it will be taxed on the investment income of Kite corporation which is the C c ...

Crow corporation has been a calendar year S corporation for several years. On August 14, 2008, one

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Crow corporation has been a calendar year S corporation for several years. On August 14, 2008, one of its shareholders sells her stock to Kite Corporation. Result?

What if Kite Corporation (a C Corp) buys all the stock of Crow Corporation (S Corp) for $10 million, and Kite and the owners of Crow make a sec. 338(h)(10) election? Assume that the basis of Crow’s assets is $3 million and that the shareholders cumulatively also have a basis of $3 million in their Crow shares.

Posted Date: Nov 25, 2021 05:51 PM

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Crow corporation has been a calendar year S corporation for several years. On August 14, 2008, one

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