Topics include a basic overview of the election, reasons to and not to elect, what transactions qualify for the election, treatment of specific asset types and liabilities, treatment of built-in-gain, installment sales, and non-participating owners, reporting requirements, when to utilize the parallel IRC section 336 rules, and state-specific issues for multi-state filings.
- Sections 1202, 1244 & Installment Sales On-Demand
- Sections 338(h)(10), 336(e), & S Corporations On-Demand
- Is it a trade or business? Or a hobby or investment?
- Related Party Notes and Transactions: Section 267, Imputed Interest, Disallowed Losses, and Like-Kind Exchanges
- Important Filing Deadline Information for PFC Clients