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gk77_2
Level 6
March 12, 2024
Question

S CORP OWNED BY ANOTHER S CORP

  • March 12, 2024
  • 1 reply
  • 10 views

Hi,

I need a help. A new client he already have  TWO S corp ( A & B) and started two more S corps in 2023 under existing S corps.  One under A and another under B. So when i complete the K-1 work sheet i have to add existing S corp Name and select O for entity type right?. Also can i add his name as an officer or add existing entity name. Kindly advise. 

 

GK 

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1 reply

dascpa
dascpa
Level 11
March 12, 2024

An S corp is not an eligible stockholder in another S corp.  There can by a QSUB but look up who are eligible S corp shareholders.

    sjrcpa
    sjrcpa
    Level 15
    March 12, 2024

    To be a QSUB a separate timely election is needed.

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