rbynaker
Level 14
03-14-2022
06:45 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
I've not done these (thank God!) but through the wonders of double-entry bookkeeping isn't it just a wash?
The S-Corp net income will increase because the wage expense decreases. So that will increase basis. Then you decrease basis by the same amount of NDE to get back to where you started. Right?