My taxpayer has two S Corporation K-1s.  The S Corporations sold their assets and property and have filed final tax returns.  I do not prepare the S Corporations or know who did. 

My taxpayer has stock shares listed on both final K-1s and he has basis left in his stock based on stock basis analysis worksheets.  My thought is to pick up the basis left as a loss on his stock shares in each S Corporation and put it on the 1040 Schedule D but is that correct?  Or does he just lose the basis left in his stock?  I want to make sure I get this piece correct.