Skip to main content
Level 5
March 8, 2022
Question

S Corp Distributions that exceed basis

  • March 8, 2022
  • 1 reply
  • 8 views

When distributions ( other than ordinary income) from S corp are greater than remaining basis they are taxed as long term CG.

Any idea on where to report that amount on 1040?

 

Thanks!

This topic has been closed for replies.

1 reply

JRC
Level 7
March 8, 2022

I report on Sch D.