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Has anyone tried to type out a Basis Statement there, since any S Corp with disbursements or with a loss MUST attach one?
Yes, this give you a place to put your 1.266-1 Election, even though the form isn't labeled right. But BE CAREFUL - Turbotax will then include a Form 3115 with missing entries.
Don't try to fill these in... it's usually for changing accounting methods as a result of anticipated or ongoing audit. Run an Error Check - you'll see. Instead DELETE the Form 3115 (several pages).
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