Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Intuit
Virtual · Free
Elevate 2026
Tax Day isn't the finish line — grow your firm at our two-day virtual conference
Free CPE/CE
Intuit
Virtual · Free
Elevate 2026
Tax Day isn't the finish line — grow your firm at our two-day virtual conference
Free CPE/CE
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
1120S
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Neener54
Level 1
04-08-2021
08:53 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
3 shareholders in an S Corp that have little to no basis. The company incurred a large loss this year. I have always opted not to calculate the M-2. How do I prepare their K-1's to show that they cannot deduct the loss? They also had distributions during the year that I need to account for.
Labels
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
1 Comment 1
IRonMaN
Level 15
04-08-2021
09:04 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Provide a basis statement with each K-1
Slava Ukraini!
Related Topics
