Gifting S-Corp Stock to Son

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  • Bucky
    Senior Member
    • Aug 2005
    • 291
    #1

    Gifting S-Corp Stock to Son

    Father wants to gift all stock to son. Business is a small flooring sales and installation company. All stock is owned by the father. Assets, inventory and goodwill around 100K. Is all they need to do is issue new stock certificates, record gift in minutes and show ownership change at yearend on K-1s. The father realizes he will need to file gift tax return.
    Tags: None
    • Unregistered
      #2
      Business Valuation

      You will have to get a business valuation to document the TRUE value. He may consider gifting him a percentage each year, taking advantage of the annual exclusion.

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