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How do I calculate the basis for my shares of an S corporation that was sold?
I was a shareholder in an S corp that was started in 1992 and sold in 2017.
I added the income that was reported on all my K-1 forms, box 1, and the amount I paid for the original shares.
From this I subtracted the total of all the distributions I received.
I used this as my basis. Is this correct?
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‎June 3, 2019
4:46 PM