Specialty Tax Schedules
Historical Shareholder Equity Basis
Genesis will review your historical tax reporting and records to generate basis reports for shareholders, ensuring our clients can enhance asset reports and maintain proper standing in tax situations for: Shareholder Distributions, Loss Limitations, Capital Purchases, and Sale of Equity, while also providing flow-through income reports related to historical shareholder equity.
Enhance Asset Reports
We can enhance asset reports for clients' internal reporting to illustrate the tax level basis and the tax implications on sales in various situations, including ordinary gain recaptures, assets with multiple additions such as rebuilds or improvements, and considerations related to cost depletion and statutory depletion. Additionally, we can provide flow-through income reports and analyze historical shareholder equity to further support our clients' financial decision-making.
Flow-Through Income Reports
Businesses that generate flow-through income can have various types of income and deductions, which are reported and taxed differently on your return. We can provide enhance asset reports and flow-through income reports to assist clients in understanding these matters, including insights into historical shareholder equity.