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WHAT WOULD YOU DO 6-4 The First Distribution GoGetUm is a new client who has been in business for ten years and has been a
WHAT WOULD YOU DO 6-4 The First Distribution GoGetUm is a new client who has been in business for ten years and has been a Subchapter "S" client since inception. The client gave you a schedule prepared by the prior CPA's tax software program with the title "Shareholder Basis Worksheet." There is a distribution from the corporation this year that, based on the schedule, maybe in excess of their basis. Can you rely on this form for the correct basis for preparing the current year's return? If not, what should you do?
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