QUESTION
We invested in a home health care company and the owner signed an agreement that we have 10% of her share in one of the branches.
Asked on Apr 12th, 2012 on Business Law - Illinois
More details to this question:
The first year end but we received no k1. Then in just recently we found out that there was no transfer of stocks and that we can''t file taxes and we were told that the branch loss but was told before that there was a distribution of 10k and 5k.what do we need to do.
1 ANSWER
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You need to consult with an attorney. It does not appear that you have received your bargained-for ownership in the business and, in any event, it is not properly documented. See a lawyer.
Answered on Apr 13th, 2012 at 3:38 PM