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Questions for my tax experts. Would you recommend an S corp shareholder take distributions up to their basis each year? If the company doesn't have the money to...
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I have a new client that has negative AAA but has over $100,000 in shareholder basis for an S corp. Can they take a distribution if the AAA is negative without ...
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Thank you for responding. It is super concerning to me that I did not know this. Which basis do I use to determine if the shareholder can deduct a loss or if th...
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My client has a new K-1 for a partnership. He contributed capital at the beginning of the year. Where do I enter the amount contributed?
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I noticed that Form 7203 from the S corp module is not matching the 1040 Form 7203 for the same taxpayer. The company is NOT a passive activity so the basis sho...
