The Advisor can now understand how economic events changes and strategies applied to the plan affect S Corporation stock and debt basis without having to go back and simulate the changes in the tax program. Having this capability embedded in Intuit Tax Advisor prevents unexpected capital gains where input in the tax plan causes the basis to go negative.
What's new?
· The Pre-Strategy Baseline now has a Basis Limitation section within the S Corporation K-1 activity where the advisor can adjust stock and debt basis.
· The Strategies tab now has a new type of insight called Analysis Worksheets where the Advisor can track the changes to S Corporation stock and debt basis as they add data to the plan.
· The Advisor can see more detail and the full calculations to S Corporation stock and debt basis by launching the Analysis Worksheet.
What's next?
· The next release will enable Partnership Basis Tracking with the same functionality as S Corporation Basis Tracking.
(Stay tuned for a How to video)
