Accountants....question for you

March 21, 2024
by a searcher from University of Pennsylvania - The Wharton School in Miami, FL, USA
Hello!
I was speaking with a seller who just last week bought out her 50% partner (her sister). Involves real estate + OpCo.
Seller told me that, as part of the deal, she agreed not to sell the business for 2 years bc it would provide tax benefits to her sister (her former partner).
I have not heard of anything like this, but would not be surprised if there was something in the tax code addressing it.
Can anyone provide any colour?
Thank you!
from Harvard University in Lynbrook, NY 11563, USA
from Harvard University in Philadelphia, PA, USA