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Transferor Shareholder's Stock Basis on Form 7203 Affected by Gifting Away S-Corp Stock?

Tax Explorer
Level 4

Hi,

I have a S-Corp where one shareholder gifted his S-Corp stock to another person in 2023. Is the transferor shareholder's stock basis affected by the gift to another person on Form 7203?

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1 Comment 1
sjrcpa
Level 15

It should be. Line 13?

The more I know, the more I don't know.
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