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Neener54
Level 1
04-08-2021
08:53 AM
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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.
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1 Comment 1
IRonMaN
Level 15
04-08-2021
09:04 AM
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Provide a basis statement with each K-1
Slava Ukraini!
