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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 585
Experience:  10 years experience
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Moser CPA; If I have filed a QSub election but subsequently

Customer Question

Moser CPA; If I have filed a QSub election but subsequently decided that being a Qsub is not the right choice from a tax planning standpoint can I still file stand alone S Corp return. First year for entity
JA: Thanks. Can you give me any more details about your issue?
Customer: It is for a client who does multiple real estate projects, we have an umbrella S Corp and then do a Q Sub for each development. In this case we want to have the 2015 income for 1 of the Qsubs end up being owned by a different entity
JA: OK got it. Last thing — Tax Professionals generally expect a deposit of about $32 to help with your type of question (you only pay if satisfied). Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.
Submitted: 1 year ago.
Category: Tax
Expert:  Mark D replied 1 year ago.

Hello, was ownership of the Q Sub transferred to another person or entity?