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painthorsemom
Level 2

Why is Sch. K Line 16e (repayment of loans from shareholders) blank?

On the Balance Sheet, loans from shareholders is lower at year-end than at the beginning of the tax year. Doesn't this repayment of loans carry over to Scheduled K automatically?

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‎January 26, 2020 11:15 AM
last updated ‎January 26, 2020 11:16 AM
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3 Replies
Rick19744
Level 13
Level 13

Why is Sch. K Line 16e (repayment of loans from shareholders) blank?

No.  Balance sheet items are input manually.

Since I am on a MAC, can't see this program as it's Windows only, but I would imagine this item is input somewhere in the shareholder information section.  I may be wrong, but that would be my suggestion to look there.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
‎January 26, 2020 2:26 PM
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painthorsemom
Level 2

Why is Sch. K Line 16e (repayment of loans from shareholders) blank?

You were correct!  If you go to Forms, there is a Basis Info worksheet where you manually input the loan repayments info for each shareholder.  Thank you for responding!

 

‎January 26, 2020 2:30 PM
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Rick19744
Level 13
Level 13

Why is Sch. K Line 16e (repayment of loans from shareholders) blank?

You are welcome.

*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
‎January 26, 2020 5:25 PM
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