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Creeder, please clarify as I am also dealing with a potential 1244 loss. I am assuming that this is an S corporation, correct? When you say they "wrote off. .

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Under a new IRS ruling, an S corporation is not eligible for Section 1244 losses. An S corporation purchased Section 1244 stock in a small company which did .

2 posts - 2 authors - Last post: Dec 2, 2008I have been researching to determine if S Corporation stock qualifies for ordinary loss treatment under IRC Section 1244. In reading the .

Question - Re 1244 Stock Can a S-corp issue 1244 Stock What are the. Find the . Capital contributions cannot be taken as an ordinarily loss. What would have .

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Section 1244 Stock – the law only permits up to the first $1 million to be .

16 posts - 7 authors - Last post: Mar 3, 2010If not, I am trying to think of a way that an owner would get a 1244 loss from a S corp: if he funds the loss by lending money to the corp. than all .

Section 1244, which allows ordinary loss treatment with respect to the stock of small business corporations, both C corporations and S corporations. In addition .

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C Corporation Partnership vs. S Corporation—SE Tax Organizational and Start- Up Costs Unsuccessful Attempt to Acquire Business?Section 1244 Loss .

While most attorneys believe it should follow corporate law decisions and protection, . Only applies to corporations; C Corps and S Corps . 1244 stock loss deduction could be real factor in forming as a corporation (C or S) and not a LLC. .

6 posts - 3 authors - Last post: Sep 2, 2004You CAN take a 1244 deduction on a loss on the sale or exchange of s-corp stock if it otherwise qualifies. The caveat here, is making sure not .

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With an s-corp you need very good documentation from day 1 if you are going to be able to substantiate your 1244 loss. From the above section, "In the case of .

That $3000 loss is allocated as $2500 to Section 1244 ordinary loss and a capital loss of $500. The calculation shows that larger initial capitalization into S corp .

in reply to: S Corp liqidation - loss allowed? Not on Sched E. Is there a .

Jump to Best Way to Write Off the Investment in a Failed S Corporation‎: If you formed a S Corporation and it . as an ordinary loss, using the Section 1244 .

2 posts - 1 author - Last post: Apr 27Essentially, section 1244 allows losses sustained from the disposition . The owner of an S Corporation who is also an individual shareholder .

Section 1244 Stock – the law only permits up to the first $1 million to be qualified stock in an S corporation. 3. Ordinary Loss – losses on sale of S corp stock are .

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Section 1202 permits a taxpayer, other than a corporation, to exclude in . Gain from the disposition of qualified small business stock by a partnership, S corporation, . Any amount of §1244 loss in excess of this limitation is treated as a capital .

by JR Dorocak - 1994 - Cited by 4 - Related articles

How does 1244 stock help a small corporation? . Select Entity, C Corporation, S Corporation, LLC, Nonprofit Corporation . Normally, a small corporation shareholder's loss from the sale or exchange of their stock is considered a capital loss .

Although and S-corporation and partnership are both pass-through entities, they are treated differently for a loss on Section 1244 stock passed through the entity .

in reply to: S Corp liqidation - loss allowed? Not on Sched E. Is there a resulting capital loss? Is there possibly a resulting Sec 1244 loss? by TiRobey 07/16/10 .

S corporations are generally a better choice of entity for a small business. . is that if the corporation has a loss, the loan is not deductible as a 1244 loss -- it is a .

First, while Section 1244 applies to S corporations, owners of S corporations also have other ways in which to deduct losses. Deducting losses in S corporations .

S Corporation Tax Considerations, Tax Planning, losses, shareholders and S . S corporation shareholders may be entitled to Section 1244 ordinary loss .

Jump to Section 1244 Stock Loss‎: 1244 apply to both S and C corporations. An individual who suffers a loss can claim ordinary rather than capital .

Apr 16, 2011 – LLC vs S Corp – Learn The Difference Between LLCs And S Corps, . Third tax period want to walk away, take loss of 1244 basis as ordinary .

Another benefit of the C corporation is the Code Sec. 1244 ordinary loss deduction for small business stock; however, the S corporation also enjoys the potential .

If your S corporation has suffered losses due to economic hard times, you may be able to save a lot in taxes from these losses if you have Section 1244 stock. .

section 1244 - loss. Submitted by Anonymous on Sun, 2010-02-07 13:01. General Discussion · section 1244. Hi,. In 2002 I started an s-corp and used $100K of .

At the corporate level, the corporation recognizes gain or loss on the liquidation . . IRC SECTION 1244 STOCK LOSS – IRC section 1244 provides special rules. . The proper character of gain from a liquidating S corporation is very important .

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Individuals and partners can treat losses from the sale of § 1244 stock as ordinary, . Comm'r, 101 T.C. 196 (1993), has held that S corporations, like regular C .

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