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Business & farm
I've been filing 1120-S tax returns since 2009. You would think that somewhere in those filings it would have kept track of the stock basis.
Assuming that all debt/bills have been paid by the S-Corp, would the business checking account balance be the same as the stock basis of the corporation? All income and expenses have been added and subtracted to that single account since I started the S-Corp.
March 29, 2022
8:19 AM