Understand you are trying to arrive at the correct answer, however, you need to determine your tax basis.
You didn’t answer my questions, which would help get you closer to the correct figure.
What you were told is not 100% accurate. This is due to the fact that income passed out to you increases your tax basis.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
