Befuddled
Level 1
02-04-2021
02:05 PM
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Client has zero basis since buying out other shareholders in 1120S years ago. Never a concern as profit until 2020. 2020 loss needs to be suspended. Attempting to locate Part II of form 6198 in some form of entry worksheet for the 1040 to suspend the loss for 2020. Cannot locate.
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