Hello,
Hoping someone can help me understand since I feel this is in the same topic area as this post.
I follow completely the need to do a 1099 DIV and how to report it in the personal return but I am having a hard time understanding for what reason this would be causing a gain on the personal return after it is all said and done. The basis left on 7203 for the S-Corp is less than the liquidating distribution.
I am guessing there has to be a simple explanation for why this would occur and I am just overthinking this one!
Would appreciate any help offered!
