Adjusted basis for K-1 (1120-S)

[redhakamal67]

Where can I find the amount of the adjusted basis in my K-1 form 1120-S and from Shareholder basis worksheet?

[Rick19744]

As a shareholder in an S corporation, it is your responsibility to maintain your tax basis in this investment.

This begins with your initial capital contribution and is updated annually for the applicable items on your K-1.

If you have been using TT previously, have you looked in your 2019 TT worksheet information to see if there is anything there?

[redhakamal67]

This is first year I file as share holder.

[Rick19744]

Ok.  Take a look at the K-1 instructions in the attached link.  You should be able to determine the annual adjustments from this.

https://www.irs.gov/pub/irs-pdf/i1120ssk.pdf