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Level 3
June 16, 2023
Solved

Sale of a C Corporation

  • June 16, 2023
  • 2 replies
  • 32 views

Sale of a C Corp May 2023.  All shares sold to new owner.  Name of company and EIN transferred to new owners.  Can both file a tax return for same year(2023 tax filing year) with the same company name and EIN?  If so how?  If not, what needs to be done? Thank you for your assistance.

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Best answer by George4Tacks

Old Shareholder reports the sale on their 1040, Schedule D. Possibly. 1202 stock.

 

2 replies

rbynaker
Level 13
June 16, 2023

 The corporation files its own tax return for the entire year.

George4Tacks
Level 15
June 16, 2023

Old Shareholder reports the sale on their 1040, Schedule D. Possibly. 1202 stock.

 

Answers are easy. Questions are hard!
sjrcpa
Level 15
June 16, 2023

"Name of company and EIN transferred to new owners. "

No they didn't. They are the corporation's. Only the stock in the corporation changed hands.

The more I know the more I don’t know.