S-Corps with multiple shareholders do not seem to be carrying basis over correctly from the prior year. Its like everyone's basis is scrambled and put on someone's else stmt and then the last person shows no basis at all. This is a major issue. Is anyone else having this problem?
Its been reported, this is what Ive been told to pass along
The ProSeries team is needing more information. Sign into the community https://accountants.intuit.com/community/ and select the envelope on the right hand corner. Type in "IntuitGabi" and send her a message on this topic so she give you information on how to send a Sanitized file for research
Worked with ProSeries support and I had to update the 2023 software, delete all 2024 S-Corp returns in the 2024 software and then re-transfer the 2023 1120S returns into the 2024 software and this appears to have corrected the basis issue.
