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Level 5
February 16, 2024
Question

Transferor Shareholder's Stock Basis on Form 7203 Affected by Gifting Away S-Corp Stock?

  • February 16, 2024
  • 1 reply
  • 6 views

Hi,

I have a S-Corp where one shareholder gifted his S-Corp stock to another person in 2023. Is the transferor shareholder's stock basis affected by the gift to another person on Form 7203?

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1 reply

sjrcpa
Level 15
February 16, 2024

It should be. Line 13?

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