schirallicpa Posted November 2, 2021 Report Share Posted November 2, 2021 I don't know why people do this. The Deceased TP had a ATT power station that he rented to ATT each year. But the real estate and rental was in a corp. The corp was created in Deleware. Property and TP are in NY. Nothing in will to take care of this. Deceased TP was 100% SH of corp. Lawyers have to move real estate from estate to TP's spouse in order to make a transaction with ATT (ATT is buying out the contract for 340,000). This was moved this past summer. Not sure why ATT didn't deal with estate directly. Is gain on sale to the spouse LT or ST? I'm feeling LT but when I did estimates in May I ran ST and now I'm questioning myself. Quote Link to comment Share on other sites More sharing options...
schirallicpa Posted November 2, 2021 Author Report Share Posted November 2, 2021 Good grief - no - that was not edited quick enough. It seems that the spouse became president of the corp at the TPs death. So now it is all the corps problem. So - nevermind. Quote Link to comment Share on other sites More sharing options...
schirallicpa Posted November 2, 2021 Author Report Share Posted November 2, 2021 (note to self- don't start typing the question until you have gone fully around the horn with the lawyer.) 1 Quote Link to comment Share on other sites More sharing options...
Lee B Posted November 2, 2021 Report Share Posted November 2, 2021 2 hours ago, schirallicpa said: Good grief - no - that was not edited quick enough. It seems that the spouse became president of the corp at the TPs death. So now it is all the corps problem. So - nevermind. Now it makes more sense Quote Link to comment Share on other sites More sharing options...
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