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Business & farm
Ok, few more relevant details.
-Total revenue (non Cap gain) was 250k minus expenses of 91k (included interest on the loan).
-Cap gain was from selling shares in the partnership, not the S corp. We own 1.4 percent of the partnership and sold a small portion to a new partner who was buying in. So total proceeds were 25.5k (3.5 of which was CG).
-Capital stock was 25 dollars because that is what we put in initially to open the bank account. I know its weird, but that's all we put in.
‎January 4, 2022
9:57 AM