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S Corp - one shareholder dies

  • 1.  S Corp - one shareholder dies

    Posted 26 days ago
    S-Corp two shareholders..one shareholder dies at end of tax year but leaves no will. Surviving family is ambivalent to situation and will not return calls. Can one assume that the surviving spouse now owns the shares?

    S-Corp is NY based. Shareholder is/was NJ resident.

    Who get the pro-rated K1 after death?

    Any thoughts or experience with a similar situation?

    Thanks

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    Perry Paletta CPA
    info@paletta.net
    http://www.paletta.net
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