Please! Get off your butt and start tracking your basis!
I hope the message got your attention!
This is especially crucial f you have a partnership or a S Corporation.
One of the things I suspect the 87,000 new IRS agents could focus on is basis of partnerships and S Corporations. If you do not have a basis work paper, I would highly recommend engaging a tax professional to help assist in this matter. Doing so might save you if you get audited.
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