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I have three partners with varying degrees of ownership

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across three entities. They would...
I have three partners with varying degrees of ownership across three entities. They would like to equalize their capital account and percentages across all three (even 33 for all of them across all entities). Basically, in Company 1, Partner A and Partner B have a 50% split; in Company 2 Partner C owns 100%; and in Company 3 Partners A and C have a 50% split. What is the best way to equalize their capital accounts?
Submitted: 3 months ago.Category: Tax
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Customer reply replied 3 months ago
Also, we would also like to make Company B and Company C wholly owned subsidiaries of Company A. Will the partners have to claim income/losses on the gain/loss of equity from each company. They are not buying into each company, but rather would just like to equalize everything moving forward (including their equity and basis)
Answered in 24 minutes by:
1/9/2018
Tax Professional: PDtax, Certified Public Accountant (CPA) replied 3 months ago
PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 5,012
Experience: 35 years tax experience, including four years at a Big 4 firm.
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Hi from Just Answer. I'mCustomer and can assist. But what you ask is involved, and may involve some gain or loss.

I would typically ask for copies of the returns, approximate value of each enterprise, and look at the underlying values and intent of the parties. Much more speciic advice that we typically can offer.

I can assist using our Premium Service offering. With that, I can privatey commu8nicate with you to help with the transaction. My offer is for the analysis only; you likely will need additional services to draft the agreements needed to commemorate your transfers.

See my offer and advice.

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Tax Professional: PDtax, Certified Public Accountant (CPA) replied 3 months ago

Premium Service window did not open on my end. I will ask site management to assist.

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Tax Professional: PDtax, Certified Public Accountant (CPA) replied 3 months ago

Sorry, premium service prompt has not opened yet on my end.

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