Question
Deceased Shareholder
The deceased husband and his spouse with two children was a shareholder of a CCPC company. The incorporated company hold two rental properties. After the husband passed away, what will happen to this company? The deceased husband share will be transfer all of his share to his spouse. Do this company need to have the deemed disposition on this two rental properties by the deceased husband of his percentage shares. What tax treatment of company need to be done for this case? and also on his last year of personal tax return? Thank you.
