- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
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?
Topics:
January 26, 2020
11:15 AM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
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.
Also keep in mind the date of replies, as tax law changes.
January 26, 2020
2:26 PM
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
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
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
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.
Also keep in mind the date of replies, as tax law changes.
January 26, 2020
5:25 PM