So I have an S corp that had losses last year because I lost several client engagements. I am the sole owner of the company and Turbo tax is asking me to fill form 7203. How do I fill the stock basis? When I say the stock basis is 100% at the beginning of the year, the form automatically calculates that basis to be 0 at the end of the year.
That is not true, right? Since I am the sole owner, my basis will always be 100% at the beginning or the end?
Can someone please help how to fill that?
