Spencer Posted April 30, 2015 Posted April 30, 2015 I have a client who purchased stock in a C Corp; 80% so he now has controlling interest. Is this a prohibited transaction? Thanks!
Kevin C Posted May 5, 2015 Posted May 5, 2015 You'll need to give more information before anyone can help. Who did the IRA buy the stock from? Is the C Corp publicly traded? How was the purchase price determined? Other questions may come up, but that should be enough to get a discussion started.
Spencer Posted May 12, 2015 Author Posted May 12, 2015 Thank you both. I will see if I can get this info.
Spencer Posted May 12, 2015 Author Posted May 12, 2015 He purchased it from an unrelated party. It is not publicly traded. The purchase was determined through negotiations between a willing buyer and a willing seller. He is on the payroll of the company.
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