Solved
Does shareholder's taxable excess distribution increase his basis on shareholder basis computation report
S-Corp shareholder (only shareholder) reported $100k excess distribution in 2020. He has $250k net incomes in 2021. So, his outside basis = $350k.
In Lacerte's M-2 ending balance = $350k while Balance Sheet, sch L is $100k less. Is this correct?
Also, shareholders basis computation report does include this $100K excess distribution in stock basis at year end.
