We have identified two very common matters affecting S corp shareholder and partner basis related to how business ERC refunds and PPP loans were reported on the entity tax returns. These entity reporting errors affect the individual tax preparer's Form 1040 clients' basis. Both of these matters cause a shareholder's or partner's basis to be understated, often by substantial amounts. This course will review these critical basis miscalculations and help business tax preparers and individual tax preparers identify clients with these issues and fix these basis errors. Plus an analysis of reporting ERC refunds received for 2023.