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Level 1

Question

Form 7203 item C What is Stock Block

Forum|Forum|3 years ago
April 2, 2023
1 reply
0 views

What is Stock Block and how do I calculate it.

tks

Level 15

like if you were to purchase stock through a broker each time you buy that s a block.

in theory, every time you put money in that's a block. however, for an s-corp that would require tracking separate basis or each block and would require per share per day allocations.

*

most of the time there is no stock actually issued. so the easiest is to assume you only have 1 block. this would be especially true for an LLC that elected S-corp taxation because there is no stock.

Level 5

When I did a recent return, that box was highlighted on the review. I had never had it prompted before and didn't have a clue what it wanted. So glad I found it here.