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Megan, one final question. I am doing my corporate tax

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return (intuit) and the deduction...
Megan, one final question. I am doing my corporate tax return (intuit) and the deduction is $0 on my K-1. Is this because I have negative equity in the s-corp?
Submitted: 1 year ago.Category: Tax
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Answered in 43 minutes by:
3/7/2016
Tax Professional: clarson000, Tax Attorney replied 1 year ago
clarson000
clarson000, Tax Attorney
Category: Tax
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Experience: I am a Tax Attorney at Insight Law in Seattle, Washington. I love what I do for a living. www.insightlawfirm.com
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Please clarify this question for me. Did this corporation have income or a loss?

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Customer reply replied 1 year ago
The corp did have a profit for 2015 but shareholders still have a negative stock basis.
Does this preclude a DPA deduction?
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