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Tax Law - Sale of Corporate Assets to Another Corporation (Related Party?)

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  • Tax Law - Sale of Corporate Assets to Another Corporation (Related Party?)

    A son is the 100% owner of an S Corp.
    His father is 100% owner of another S Corp.
    The son's S Corp is selling the assets of his S-Corp to his father’s S-Corp.
    Question is whether the sale is to a related party and any Goodwill would have to be taxed as Ordinary Income as opposed to Capital Gain.
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