1120 S Investment Account Y/E Balance contains Realized and Unrealized Gains. S Corp is reporting Cash Basis. Where can the Realized and Unrealized Gains be entered to Balance the account without creating additional income.
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Realized gains go on schedule D, unrealized go nowhere. Gains aren't reported until they are realized.
@IRonMaN at least for now
That will never pass - for the average person anyway - too complicated to track
Realized Gains are part of income.
How do we get our money back when those unrealized gains become unrealized losses the next year? Will that still be limited to $3,000 per year? lol.
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