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what happens to basis if an s corp is shutdown?
Hello tax pros,
If i have basis in an s corp (i funded it with my own cash) and it's been showing losses and I shut it down, can all of that basis be transferred to another s corp that i open the next year (for a new idea)? or is that basis lost forever?
thank you
f404
‎September 6, 2023
6:50 AM