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.
Please comment below or log in to TaxConnections to answer the Question Of The Week. If you are not a member at TaxConnections sign up here
TaxConnections is where to find leading tax experts and technology around the world. Discover tax professionals who offer you a wide range of tax expertise and be more informed about the technology that supports them in operating efficiently and successfully.
TaxConnections connects tax professionals with new tax clients and tax jobs around the world. Tax Professional Members establish higher visibility online so prospective clients and employers can find our members easily. Each members also receives a Virtual Tax Office which is the most valuable online real estate available today! TaxConnections makes a difference in your professional life.
We offer a Special Membership rate to tax professionals out of work.
https://www.taxconnections.com/special-membership
Kat Jennings, CEO
TaxConnections
858.999.0053
kat@taxconnections.com
1 comment on “Tax Professionals – Question Of The Week For You!”
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.
Comments are closed.