If I changed my business from sole propietorship to Sub S Corp do I need to file Form 8594?

[albert]

If I changed my business from sole proprietorship to Sub S Corp do I need to file Form 8594 when I transfer assets to the Sub S Corp?

[DDollar · Accepted solution]

No, you do not need to file Form 8594.  That applies when there is a transfer of a group of assets that make up a trade or business and the purchaser's basis in such assets is determined wholly by the amount paid for the assets.