19% Shareholder dies with note receivable due to S-Corp Only 2 Shareholders in this S-Corp. Shareholder #1 81%, Shareholder #2 19%.
Shareholder #2 dies leaving $82,000 note receivable on the balance sheet. Shareholder has no basis. Shares of Shareholder #2 are transferred to Shareholder #1. Shareholder #1 will now be 100% Shareholder. How should this uncollectible Note Due to this S-Corp be handled??? |