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Per share-per day is the method you've always used. Splitting into 2 separate parts of the tax year is an election and requires signed consent of all parties. You should calculate the effects on the pass-through items and on each shareholder's basis under each of the methods and allow shareholders to decide. Does the shareholder agreement specify which method should be used in the event a shareholder leaves, dies, sells shares, etc? A couple of (older) articles: https://www.thetaxadviser.com/issues/2008/dec/allocatingpassthroughitemstoscorporationshareholders.html https://www.thetaxadviser.com/issues/2010/dec/clinic-dec2010-story-09.html

I don't have any foreign clients, but I do know someone who literally wrote the book: 1040NR? or 1040? U.S. Income Tax Returns for... by Jean Mammen, EA It's available on Amazon and all your favorite places, so you could have it tomorrow! I think the 7th Edition is the latest version, so make sure you get at least the 7th Edition. Also, if your issue is NOT how to prepare the return but more how to prepare the return in ATX for e-filing, you may need to call tech support. Hopefully, someone with international clients will pop on here today to help you.

Or, maybe it will be totally unnecessary.

Do it the way you've always done it and see how close the income split is to the separate accounting they've given you. If it's at all close, it's not worth all the additional work to do the separate accounting.

And, here's an on-demand webinar: https://my-cpe.com/courses/1040-nr-or-1040-us-income-tax-returns-for-noncitizens-1623855867?opentab=ondemand#subscribe_form Jean also teaches via CCH CPELink, but I didn't see anything on-demand as I skimmed over the topics...

If your Firefox updated and you don't like the new smaller icons on the new tab page, set both of the following items to false: browser.newtabpage.activity-stream.newtabLayouts.variant Type about:config in the address bar and paste in the above. For more details: https://support.mozilla.org/en-US/questions/1491022

Sounds like the attorney's advice was worth what the client paid for it (or maybe less).

As well it should. Scumbag!

If this was a debt of the corporation, it seems like the S Corp would have been receiving statements and collection notices which it should have paid. Therefore the 1099 C would be the responsibility of the S Corp.