On form 1120, Schedule K, 4b says "Did any individual or estate own directly 20% or more, or own, directly or indirectly, 50% or more of the total voting power of all classes of the corporation’s stock entitled to vote? If “Yes,” complete Part II of Schedule G (Form 1120) (attach Schedule G)"
if new startup has two shareholders, each with >20% voting stock, does company need to file Schedule G form 1120 and indicate the individuals? Is it correct understanding of 4b?
