K-t-F Posted September 7, 2006 Posted September 7, 2006 Here is the scoop... Company A : son & wife 50/50 Company B : mom, dad, son wife 25/25/25/25 Control group? I didnt think so... thanks! I now have more info...... Company A... Buys land and develops it. Sells lots to builders Company B... Purchases lots from A exclusively Builds houses and sells them Profit is split among the 4 owners (mom, dad, son, wife) Now, a CG? ASG? Bottom line, Can there be one plan? Can there be 2 plans with 2 415 limits? If one plan and company A sponsors it, would mom and dad be EEs of A or owners? If owners, then can we file 5500EZ? Its not easy being green
K-t-F Posted September 7, 2006 Author Posted September 7, 2006 ping..... I missed this... If son is concluded to own 100% of company A by attribution (ownes wifes shares) and at the same time ownes 100% of company B by attribution (ownes mom's, dad's and wife's) then indeed it is a controlled group... Anyone? ahh... after further research... (and some help) the son doesnt own his parents share because he doesnt own more than 50% of company B... so Son 100% of company A and 50% of company B... no controlled group Am I talking to myself? Its not easy being green
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