I invested $200,000 into my business this year '09, and we unfortunately took a big hit and went out of business several month later. Our lawyer advised us to convert out losses over to a 1244 stock so that we can write it off on our taxes. He then drew up a letter stating just that for our Articles of Incorporation minutes. We were a "C" Corp, based out of Delaware doing business in Texas.
My question is, "What exactly am I suppose to do with this paper he gave us when it comes to our taxes? I am to the point where I cannot afford a CPA to help us on our taxes and need some advise.
Thank you.
Orignal From: Converting C-Corp business Losses over to a 1244 Stock.?
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