gmb1040
Level 2

Thanks for the tip!  This is a weird year, as there is PPP forgiveness, which flows through as tax-exempt income.  Maybe that is my problem.  Here are my inputs:

S-Corp K-1 input

gmb1040_0-1614787958477.png

S-Corp Basis schedule:

gmb1040_1-1614788027174.png

Individual module as imported from S-Corp module:

gmb1040_2-1614788094400.pnggmb1040_3-1614788111876.png

Individual basis statement:

gmb1040_4-1614788142293.png

My thought is that the stock basis should be zero, as opposed to the $10678 (which is the income used to restore debt basis).  I did override the beginning debt basis to include the $10678, so that my ending debt basis agreed to the S-Corp module debt basis.  Guidance is much appreciated!

0 Cheers