S Corporations and Disregarded Entities — Qualification as Shareholders — footnotes

¹ Lutrell, “S Corporation Returns,” IRS Statistics of Income Bulletin (Fall 2004), Table 22 (Rev. 12/04).

² See id.

³ IRS Letter Ruling 200439028 (9/24/04).

⁴ See id.

⁵ IRS Letter Ruling 9745017 (11/7/07).

⁶ IRS Letter Rulings 200107025 (2/20/01) and 200326023 (6/27/03).

⁷ IRS Letter Ruling 200303032 (1/17/03).

⁸  IRS Letter Ruling 200339026 (9/26/03).

⁹  IRS Letter Ruling 200439028, note 3 supra.

¹⁰  This is a form of joint ownership with survivorship rights between spouses; it is used in states that do not have community property laws.

¹¹  See Secs. 671–679.

¹²  See Regs. Sec. 301.7701-2(c)(2)(i).

¹³  See Regs. Sec. 1.1361-1(e)(1). There is an exception if the partnership is a nominee, and has no beneficial interest in the stock in which it holds title.

¹⁴  See, for example, IRS Letter Rulings 8839025 (1/29/88), 8834033 (5/26/88) and 9321033 (2/24/93), holding that transfers to testamentary trusts were inadvertent.