Hi @Rick19744 , thanks for your reply.
Have you been maintaining your tax basis in the S corporation?
Yes, I know the tax basis on the transaction date and I sold the stock less than the tax basis.
Have you had any basis or at-risk limitation on losses in the past?
No at-risk limitations.
When did you sell your stock (what month)?
The transaction date was March 31st, 2023
Just clarify that you only sold "a majority" and not all of your stock.
I owned 95% before the transaction and sold 85%, leaving me with 10%.
How did the sale of your stock occur? Redeemed by the corporation or purchased by another individual?
I sold to stock to an individual who was the minority stock owner (from 5% to 90%)
Again, thanks for helping! I appreciate the support.
