S Corp Basis Explanation | Distributions in EXCESS of Basis

In this video I discuss S Corporation Basis and how distributions in excess of basis cause you to pay capital gains taxes. I also discuss how to avoid taking distributions in excess of basis.

IRS explanation of S Corp Stock and Debt Basis: https://www.irs.gov/businesses/small-...

Form 7203: https://www.irs.gov/pub/irs-pdf/f7203...

🔗Useful Links:

🌐 Website: https://navimarajcpa.com/

📋 Enroll In My Course - Small Business Taxes: From Knowing Nothing to Savings Thousands: https://navimarajcpa.com/learn/

📁 Setup your LLC or Corporation for FREE:
FileYourBusiness.com: https://www.fileyourbusiness.com/
Inc Authority: http://bit.ly/incauthoritycoupon
IncFile: http://bit.ly/incfilecoupon
ZenBusiness: http://bit.ly/zenbusinesscoupon

If you learned something from this video, please like and subscribe and follow me on my various social media handles below. If you would like to contact me with a specific question, please visit my website or leave me a comment.

Website: https://www.navimarajcpa.com
Email: [email protected]
Instagram:   / navimarajcpa  
LinkedIn:   / navimarajcpa  
Twitter:   / navimarajcpa  
Facebook:   / navi-maraj-cpa-pllc-107003020774608  

This video was created for informational purposes and it is not to be construed as legal and tax advice specific to your unique situation. Some of the links above are affiliate links which means that if you purchase a product or service with the provided link, I may receive a commission with no additional cost to you.

© Navi Maraj CPA PLLC. All rights reserved.

#basis #capitalgains #taxes #scorp