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May 25, 2021
Question

Where do I input S corp stock basis?

  • May 25, 2021
  • 1 reply
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My understanding is that I can deduct my basis in an S corp from the distributions on the K-1 I receive from the S corp. However, I do not know where to enter into Turbotax my stock basis. Where do I enter the stock basis?

    1 reply

    May 25, 2021

    See https://www.irs.gov/instructions/i1120ssk#idm140355078371984

     

    You need to calculate your basis using the worksheet at the link above if you received a distribution.

     

    The basis computation worksheet is attached to your return.