Small shareholder of professional corp.

vbjd1111
Wed, 07 Jan 2009 17:00:21 +0000

I am a small (less than 2%) owner of the shares of the professional corporation (law firm) that I work at. The firms is structured such that I am an employee and shareholder, but not a partner. I am not clear how one discloses the shares on the FAFSA and Profile. My inclination/understanding is that this is treated just like any other shares of stock, and that I should provide a value for it in the assets section. Is this correct?

Also, the stock is subject to a number of restrictions (buy/sell), which I believe reduce its value. Is that correct as a general principle?

Thanks.