USA Basis- S Corp

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Vinny Williams

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May 25, 2021
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First and foremost, would anyone be so kind as to walk me through the steps necessary to create an accumulated adjustments account on QBO desktop version?

Also- from a technical perspective I would like to make sure my accounting logic is sound. For an S-Corp, we will cost all state and federal income taxes to this accumulated adjustments account as these are non-deductible expenses that we do not want to effect the shareholders basis, correct?
 
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