Discussion:CA S-Corp owns AR S-Corp

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Discussion Forum Index --> Advanced Tax Questions --> CA S-Corp owns AR S-Corp
Discussion Forum Index --> Tax Questions --> CA S-Corp owns AR S-Corp

IDrinkYourMilkshake (talk|edits) said:

6 April 2008
CA S-Corp has 1 individual CA resident shareholder.

Question, should the CA S-Corp or ultimate shareholder file an AR return?

KatieJ (talk|edits) said:

6 April 2008
Both have AR source income, so both should file in AR.

IDrinkYourMilkshake (talk|edits) said:

6 April 2008
I figured as well, although it is a loss. No QSub election either.

Jdugancpa (talk|edits) said:

6 April 2008
Unless the S corp parent has made a QSUB election, one S corp cannot own another S corp. You will have terminated your S election by virtue of having a prohibited shareholder.

IDrinkYourMilkshake (talk|edits) said:

6 April 2008
One is being made with the return.

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