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Tax Professionals – Question Of The Week For You!



Tax Advisor’s – What Are Your Thoughts On This Question Of The Week?

My client has an 1120-F entity and wishes to convert it to a C-Corp or S-Corp. Is there a way to do this without any tax implications? He is a US citizen and the corp has two buildings that generate rental income.

Every Friday, TaxConnections addresses a question submitted to our Ask Tax Questions platform. We ask our members to offer their thoughts on the question of the week. We realize you may need more information which you can request in the comments section below or on the TaxConnections website directly with our visitor.

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As TaxConnections CEO, Kat Jennings founded the leading tax platform connecting tax professionals and taxpayers worldwide. TaxConnections blogs educate tax professionals and taxpayers on the impact of tax laws affecting citizens all over the world.

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One thought on “Tax Professionals – Question Of The Week For You!

  1. Avatar Yosef Klein says:

    I would look at the F reorganization rules under IRC Section 368(a)(1)(F) and Regs. Sec. 1.368-2(m)(1). The fact pattern seems to be eligible for for non-recognition under this rule.

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