tasspd
Level 1
12-07-2019
09:37 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Shareholder has suspended loss carryforwards and no basis. This year they have ordinary income and received a distribution which would have been capital gain if loss, but under rules now a non-dividend distribution therefore the ordinary income should be the distribution amount and suspended loss limited to income over distribution
Best Answer Click here
Labels