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Question

Business Allocation Percentage

Forum|Forum|2 years ago
August 19, 2023
1 reply
0 views

Hi!

I need some assistance getting a figure for taxes.

I owned 50% of a company for 249 days in 2022. What is my Allocation Percentage for 2022?

Thanks!

what type of entity? there may be two ways to calculate your share. specific cutoff by which profit/loss is calculated for just those 249 days then your allocated 50%. the other way is take the profir or loss for the whole year and multiply it by thr fraction 50 X 249 / 365

Ash851Author

It is an S Corp.