@ToddL99
In this case, I'm the single shareholder. So am I right to understand that my investment is my share (100%) of the company on January 1 of the tax year (meaning cash value), less the company losses in the tax year, and plus any company gains in the tax year?
- I have not made any personal loans or added investments. The only changes are revenue and payroll. No distributions.
So in this simplified case is the adjusted basis the cash value of the company for 1 share on December 31 of the Tax Year?
It's all the language context flipping that makes this hard for me to understand, e.g. is interest the same as share and not the same as the interest on a mortgage?
