Shareholder Death 50 % Shares

Tax Topics
1

My turn for a question…
Shareholder owned 50% of shares, he died late October/23. Wife inherited shares.
Wife selling her 50% shares to the Other non related shareholder who holds the remaining shares. Sale end Jan /24

All shares are common, no preferred or other classes.

Question… does transfer of shares from husband to wife upon death trigger a Corporate Year End?

I am aware we have triggered a year end with sale of shares between wife and non related shareholder.

Thanks for your input.

2

There is no acquisition of control for share transfers between spouses. You are correct that the sale to the unrelated shareholder will result in an acquisition of control.

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3

Thank you … that is what I was leaning towards