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Andrew, Thank you.  That is correct. This entity has been an S-Corporation since inception.  I was on a quest to learn the mechanics of the situation from the books to the reporting on the return and then what happens when the Treasury Stock is sold ...

Basically the child tax credits are more than covering her tax liability. So long as her spouse isn't a very high income earner, they should be fine at year end. If her spouse makes too much to qualify for the child tax credits, they might consider re-doing ...

Hello all, I have a problem I can't figure out. S Corporation shareholder basis, one shareholder How can I correct the basis for 2020, to bring to the right amount?  I know we must make the adjustment with an explanation but can't figure out where in ...