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Entering the ownership shares of a C-Corp on form 1120 schedule g in TurboTax Business.
Currently, we have 2 owners of the corp with voting shares. I own about 37%, partner owns about 32%, and the company owns the rest. When going through TurboTax, I get to the section to enter Owner Info. I'm assuming this is the correct spot to enter the information. If so, I have 2 questions on it:
1. Do I enter the company ownership info since it owns part of the shares?
2. What do I select for "Type of Entity" when adding individual owner info? My only options are corp, partnership, trust, or tax-exempt org. There is no option for individual.
Thank you!
1. Do I enter the company ownership info since it owns part of the shares?
2. What do I select for "Type of Entity" when adding individual owner info? My only options are corp, partnership, trust, or tax-exempt org. There is no option for individual.
Thank you!
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‎June 7, 2019
3:41 PM