Sec 351

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  • veritas
    Senior Member
    • Dec 2005
    • 3290
    #1

    Sec 351

    Sole proprietor with spouse as an employee incorporate business. The stock is issued jointly for husband and wife. Does this create a problem with the 80% ownership rule after incorporation?
    Tags: None
    • OldJack
      Banned
      • Dec 2005
      • 1689
      #2
      No, the IRS considers it as owned 100% by the sole proprietor contributor.

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        • veritas
          Senior Member
          • Dec 2005
          • 3290
          #3
          Thanks!

          Oldjack........

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