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jprince1
Level 3
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Latest badges earned

  • Solved Re: S Corp losses

    I have filled out all my k-1’d. I used turbo tax business. Business has lost money four out of the 5 last years including three in a row , not counting 2022 of ...
    jprince1
    2
    Updated Dec 15, 2022

  • Solved Re: S Corp losses

    No balance sheet. However I just realized i file jointly with my wife on my 1040 and even with any loss we would not surpass our standard deduction of 25,000 so...
    jprince1
    5
    Updated Dec 15, 2022

  • Solved Re: S Corp losses

    Wouldn’t that be in my K-1 that turbo tax calculates for me
    jprince1
    9
    Updated Dec 15, 2022

  • Solved Re: S Corp losses

    Srry little confused. Been in business for about 15 years. Is basis the original stock buy I did to bootstrap the company
    jprince1
    11
    Updated Dec 15, 2022

  • Solved Re: PPP Loan forgiveness

    Thank you so much. Only question is do I include the loan payments on the other deductions line 19 on the 1120S? Do include them on the statement? I think you a...
    jprince1
    1
    Updated Jan 10, 2022
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