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Not sure what "LC" refers to. I think I could go back and figure out when contributions were made to the company. It was only in play for about 15 years.
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Thanks for your response. Nothing was done on the final corp tax return.The debt basis on the K-1 is equivalent to the stockholder loan on the corporate financi...
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I have an S corp that was dissolved in 2024. The client and wife each have a loan balance on form 7203 Part II. How do I write this off on their individual retu...
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Hmmm. I actually want them to show up as "nonresidents." Per the military, their resident state is WA and I'm told that exempts them from paying income tax in H...