Hi folks!
Scenario:
Parent owns 100% of Company A.
Parent/Adult Child are 50/50 partners in Company B.
Unrelated entities.
Am I correct in that there is no controlled group here? It is my understanding that ownership is only attributed from/to Parent/Adult Child if they own over 50%, not 50% exactly.
Or am I not reading the rules correctly?
Thank you!
Donnie