Announcement

Collapse
No announcement yet.

Question regarding S corp election

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #1

    Question regarding S corp election

    I have a client that is currently a C corp but has elected to be taxed as an S corp starting this year. He had some carryover losses on the C corp. Do they carry over to the S corp? If not, are they suspended if he decieds to elect C corp status again?
    Tags: None
    #2
    suspended until it becomes a c-corp again.
    Dave, EA

    Comment

      #3
      Losses carried over from C-Corp

      Can be used to offset taxable built-in gains.
      Last edited by veritas; 10-31-2008, 08:27 PM.

      Comment

      Previous template Next

      Disclaimer

      Collapse

      This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

      Working...
      X