Barbara Weltman

Big Ideas for Small Business, Inc.

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New form for figuring S corporation shareholder’s basis?

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The IRS is soliciting comments on Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations. Written comments submitted on or before September 17, 2021, will be assured of consideration. There is no draft form currently available; you need to ask the IRS to see one (call Jon Callahan at (737) 800-7636).  #IdeaoftheDay