i dont think i would try tomatoes just yet. they tend to be very acidic and can be harsh on the stomache. id wait till my baby is a little older. and this is coming from a mom of a seven month old who has been giving cereal since 2 months and stage 1 food since 3 months, so im not all about following 'the rules'... blondie Â· 9 years ago.
My client 100% S-Corp shareholder has received an IRS examination letter regarding the SEP-IRA deduction on 1040. talked to the IRS agent, he says, the question is focused on the S Corp earnings/distributions qualifying for the SEP-IRA!!! My client in addition to the S Corp distributions, has also received a W-2 from the S-Corp which shows a significant salary justifying the SEP-IRA contributions in my opinion.
Best Answer: Your S corp should have filed a Form 1065 with K1. (sent to IRS) You would also receive a K1 from the corporation. The gain or loss on the K1 is what you would show on your tax return on Schedule E page 2.That information will transfer to your 1040 page 1 on line 17.) The $300 loss will flow through from the K1 to your Schedue E. The $900 you invested is not deductible. It is your beginning basis for stock in the S-Corp. 2) They are separate entities and must be filed separately. 3) See 1) above.