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  • Posted in: All Member Forum

    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 ...

  • Posted in: All Member Forum

    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 ...

  • Posted in: All Member Forum

    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 ...

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