topic Why is Sch. K Line 16e (repayment of loans from shareholders) blank? in Business & farm

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

painthorsemom — Sun, 26 Jan 2020 19:16:42 GMT

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?

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

Rick19744 — Sun, 26 Jan 2020 22:26:39 GMT

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.

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

painthorsemom — Sun, 26 Jan 2020 22:30:17 GMT

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!

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

Rick19744 — Mon, 27 Jan 2020 01:25:48 GMT

You are welcome.