Enter California stock basis, loan basis, and suspended loss information for shareholders

  1. Select
    File
    then
    Open Client
    to open the desired S Corporation client.
  2. Choose
    View
    then
    Shareholder Information
    .
  3. Select
    Shareholder Basis
      on the California tab.
  4. Select the
    Stock
    tab.
  5. Go to the dropdown and select the shareholder you want to enter California stock basis information for.
  6. Enter the information for the shareholder's California stock basis.
  7. Select the
    Loan
    tab.
  8. Go to the dropdown and select the shareholder you want to enter the shareholder's California loan basis information for.
  9. Enter the information for the shareholder's loan basis.
  10. Select the
    Suspended losses
    tab.
  11. Enter suspended loss information. UltraTax CS uses this information to determine the California current-year allowed loss and the California disallowed loss to carry forward. UltraTax CS combines the current-year loss and suspended loss amounts and determines the allowable amount based on the available California stock and loan basis.
  12. Select
    Done
    when you're finished entering information.
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