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Shareholder

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

Follow these steps to enter stock basis, loan basis, and suspended loss information for shareholders.
  1. Select
    File
    , then
    Open Client
     to open the S Corporation client.
  2. Select
    View
    , then
    Shareholder Information
    .
  3. Select
    Shareholder Basis
     on the
    Other Info
     tab.
  4. Select the
    Stock
     tab.
  5. Select the shareholder from the dropdown to enter stock basis information.
  6. Enter the information to calculate the shareholder's stock basis.
  7. Select the
    Loan
     tab.
  8. Select the shareholder from the dropdown to enter loan basis information.
  9. Enter the information to calculate the shareholder's loan basis.
  10. Select the
    Suspended losses
     tab.
  11. Enter the suspended loss information. UltraTax CS uses this information to determine the current-year allowed loss and the disallowed loss to transfer forward. UltraTax CS combines the current-year loss and suspended loss amounts and determines the allowable amount based on the available stock and loan basis.
  12. You'll need to enter information in the tabs for UltraTax CS to calculate shareholder basis. Don't mark the
    Suppress calculation of shareholder basis worksheet
     field in the 1120 screen.
  13. Select
    Done
     when you're finished entering information.
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