JamesG1
Expert Alumni

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IRS form 7203 Shareholder Stock and Debt Basis Limitations determines the amount of the loss in the enterprise that your cost basis allows in the enterprise.  The amount allowed could differ from what is reported on the IRS Schedule K-1 (1120S).  In the example below, the K-1 Amount to Adjust will be reduced to the Allowed Loss.

 

 

 

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