@Carl and @agask2agask2 This thread has been very helpful to me. One question. In disposing the sole prop (converted to S-Corp), TT asks
Did you dispose of the business in either of the following ways?
* sold it to a related party
* reported the sale using the installment sale method
* business was exchanged in a like-kind exchange transaction
o Yes, I disposed of the business in one of these ways
o No
I assume the correct answer here is "Yes" if converted to a S-Corp where the previous sole proprietor owners are the same as the S-Corp Owners and the business (real estate sales) is exactly the same. Could you please confirm. thanks!
