Summit1
Level 5
09-12-2024
04:08 PM
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1120 S Investment Account Y/E Balance contains Realized and Unrealized Gains. S Corp is reporting Cash Basis. Where can the Realized and Unrealized Gains be entered to Balance the account without creating additional income.
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IRonMaN
Level 15
09-12-2024
04:45 PM
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Realized gains go on schedule D, unrealized go nowhere. Gains aren't reported until they are realized.
Slava Ukraini!
Level 12
09-12-2024
05:06 PM
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@IRonMaN at least for now
IRonMaN
Level 15
09-12-2024
06:50 PM
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That will never pass - for the average person anyway - too complicated to track
Slava Ukraini!
Accountant-Man
Level 13
09-12-2024
09:32 PM
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Realized Gains are part of income.
** I'm still a champion... of the world! Even without The Lounge.
ljr
Level 9
09-13-2024
07:47 AM
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How do we get our money back when those unrealized gains become unrealized losses the next year? Will that still be limited to $3,000 per year? lol.