User talk:Mendhasj
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late Form 966
what did you find out about filing a late Form 966. My client sold by installment sale all of his S-Corp 5 months ago. We want to liquidate and distribute out the note. Can we do this?
Mendhasj: I would like to hear your resolution as to what you did with the transaction that you mentioned in a November 2007 post on Section 338h10. Mine may be similar with a minority owner buying a majority owner's S corporation stake mostly on an installment obligation. I think the 338h10 may be their answer. Another possibility is a QSub election. Can you let me know if you could help on what you have done with S corporation transactions in these cases especially when tax basis is near 0 and there is a lot of goodwill.
This would be much appreciated. Sheldon
