Form 1120, Schedule K, Question 16

[AJain393]

Question on the form: During this tax year, did the corporation have an 80%-or-more change in ownership, including a change due to redemption of its own stock?

Situation: A C-Corp was founded in 2020, and in the same year, 80% of total common stock were issued to a solo founder.

Question: Would that be seen as an Ownership change?

[M-MTax · Accepted solution]

It's not an ownership change for a corp that was just formed and issued shares.