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November 18, 2024
Question

Does TurboTax Business track an S - corp owner's equity basis correctly or not?

  • November 18, 2024
  • 2 replies
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What's the final verdict?  I've read conflicting answers.

  So far, I've understood that we should use the Forms view to input capital contribution, since the step-by-step doesn't prompt for that information.

Apart from omitting the capital contribution, does TT do the rest of basis tracking correctly?

2 replies

Employee
November 18, 2024

Employee
November 18, 2024