gmb1040
Level 2
03-03-2021
10:25 AM
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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
S-Corp Basis schedule:
Individual module as imported from S-Corp module:
Individual basis statement:
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!