S Corp

6 replies
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I have an S-Corp that has portfolio investment income. Does this not count as part of their basis?

Lacerte Tax

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IRonMaNAnswer

Level 15

The investment itself really isn't any different than a CD in a bank. The only difference is the earnings being generated from the investment. Instead of just interest, you could have interest and dividends and possibly a capital gain or loss to report.

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sjrcpa

Level 15

Yes it does.

The more I know the more I don’t know.

IRonMaN

Level 15

How does everything look once you have the balance sheet prepared?

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J

Just MeAuthor

Level 2

The balance sheet balances. I'm sorry but this is the first time I have had any business do any investments with investment companies, not a CD in a bank. I have Lacerte to balance with the portfolio income & expenses on the M1 & other sch K items. But nothing really showing up on the K1. Your help will be greatly appreciated.

IRonMaNAnswer

Level 15

The investment itself really isn't any different than a CD in a bank. The only difference is the earnings being generated from the investment. Instead of just interest, you could have interest and dividends and possibly a capital gain or loss to report.

Slava Ukraini!

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