Thank you for your help. I am at lost, I contacted an accountant with the information you gave me. He is asking for a fee of $7,000 to do the section 754 + $1500 tax return. He said it may take a year for the IRS to respond. All this for a company that net about 20K a year. Something wrong here. I am not going to pay $8.5K, I must figure it myself.
Again thank you for your help.
