fmbkvb-
New Member

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?