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S Corp Basis - where to record outside buyouts?

rjbernhard
Level 1

On the basis statement for a shareholder in an s corp, how can I use this tool to track the purchase of additional shares (or the complete buyout) of another partner?  THe basis statement is required to be attached to 1040 this year, and if they purchased all the shares of the other shareholder, that should increase their stock basis (outside basis) correct?  ANd allow for additional distributions before capital gains kick in?

 

Thanks

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