<title>Re: K1/S-Corp</title>
<link>
https://ttlc.intuit.com/community/taxes/discussion/re-k1-s-corp/01/1071#M454
</link>
<description>
<P>But you also may have potential gain/loss on the sale of your stock.</P><P> </P><P>The current year income/loss and separately stated items adjust your basis (as well as any prior year items did; it's best to compute basis at the end of every year taking into account that years income/loss, separately stated items, and distributions/contributions) . </P><P> </P><P>You have to compare the amount of distributions you received in exchange (or surrendering ) for your stock. If the total distributions exceeded your adjusted basis in stock, then you have a gain; if less, than a loss (capital gain/loss and depending on your holding period long or short term).</P><P> </P><P>Here is a link for information regarding S Corporations and it includes other links as well.</P><P><A href="https://www.irs.gov/businesses/small-businesses-self-employed/s-corporations" target="_blank">https://www.irs.gov/businesses/small-businesses-self-employed/s-corporations</A></P><P> </P>
</description>
<description>...</description>
<pubDate>Tue, 03 Apr 2018 00:16:09 GMT</pubDate>
<guid>
https://ttlc.intuit.com/community/taxes/discussion/re-k1-s-corp/01/1071#M454
</guid>
<dc:creator>LudwigVan_fan</dc:creator>
<dc:date>2018-04-03T00:16:09Z</dc:date>