Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

S-Corp basis computation - how to submit with return

Highlighted
Level 1
last updated ‎March 26, 2020 6:27 PM
S-Corp who paid distribution to S/H. On Schedule E, Part II, line 28, I am checking box (e) to require basis computation - what form do I use to submit basis comp with tax return?
Labels (1)
0 Cheers
3 Replies 3
Highlighted
Level 15
Level 15
last updated ‎March 26, 2020 6:27 PM

The S-corp should have been able to include a basis statement with the K-1 or you can fill out your own and attach as a PDF

https://www.thetaxbook.com/updates/TheTaxBook/Client%20Tax%20Tools/S_Corporation_Shareholders_Adjust...


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
0 Cheers
Highlighted
Level 1
last updated ‎March 26, 2020 6:27 PM

Thank you for your reply.  If I plan to e-file the 1040, how would I attach the basis schedule.  Or can I not e-file in this situation?

0 Cheers
Highlighted
Level 15
Level 15
last updated ‎March 26, 2020 6:27 PM

From within the client file, on the top menu bar click Efile > Attach PDF


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪