I have a client who is expanding operations via acquisition. They are going to put the new company into an S Corp Subsidiary (incorporate the asset purchase).
I see the requirement to file the S Sub election - form 8869 - but I'm wondering if we need to make the S Election for the new corp as well.
Logically, the subsidiary doesn't qualify to be an S Corp, so I don't see how it could make the election.
I see the requirement to file the S Sub election - form 8869 - but I'm wondering if we need to make the S Election for the new corp as well.
Logically, the subsidiary doesn't qualify to be an S Corp, so I don't see how it could make the election.
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