We are selling stock, the new owners want to continue business without interruptions. We get our money at closing.
However, my concern how the corp 1120s tax return should be prepared? Who is responsible for prep? Do I close books as of April 30, and buyers start from scratch with my ending balance sheet?
Do we prepare one tax return with k-1s based on sale date, or I can do ours for 4 months and they will do their own for the rest of the year?
Thanks
