Subscribe for Daily Updates!
What, if any, specific reporting is required by IRS for the "gain" on shares of an ex-member departing charitable tax-exempt co-op? I'm in California so knowledge of co-op law is almost non-existent here. The members are mostly very poor so I'm guessing they are not a high priority for IRS. I don't see anything in the Form 990 instructions and my 2008 edition of Tax Management's Co-op Portfolio doesn't seem to cover this--Joel E. Miller ESQ where are you?
dc
Introduce yourself to other members of Board Talk! Log in below or register here.
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.
You should consider consulting a California attorney who specializes in CA co-op law, rules, and regulations. Most of the contributors on this board are familiar with NYC co-ops, and I'm pretty sure this is little to no commonality between CA and NYC co-op rules and regulations.
Thank you for rating!
You have already rated this page, you can only rate it once!
Your rating has been changed, thanks for rating!
Board Talk members who registered prior to March 9th, 2016 will need to reset their password.