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New method provided for tax basis capital reporting
WebAnkit is a Chartered Accountant and a commerce graduate from Calcutta University. At present he is working in a Listed Company ( Nifty 500) in Accounts team and his role / areas include but not limited to IFC formulation and testing, SOP Formulation, Control Audit, Management Audit, Process Audit. During his tenure of internship with one … WebSchedule K-1, Box 16B; Shareholder’s Basis Worksheet, Page 1, Line 7; Schedule M-2, line 3(d) For an S-Corporation, both current-year and prior-year expenses paid with proceeds from forgiven PPP loans are reported on Schedule M-2, lines 3(a) and 5(d). leadership legacy
Form 1065 - Schedule M-2 – Analysis of Partners’ Capital Accounts
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