Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Data Sharing

Data share basis information from an 1120S to a 1040 client

Beginning-of-year basis balances and prior-year suspended basis losses aren't automatically shared from 1120S to 1040 clients. If you need to share this information (for example, if this is the 1st year preparing a shareholder's return), you can indicate this in the application. For 1040 clients, end-of-year balances and carryovers proforma into the next year's application.
  1. Do 1 of the following to data share beginning-of-year basis balances and prior-year suspended basis losses from an 1120S client to a 1040 client:
    • To share beginning-of-year basis balances and prior-year suspended basis losses for all shareholders, enter
      X
       in the
      Data share beginning of year basis and prior year suspended losses for all shareholders
       field in the 1120S Information section of the 1120 screen, located in the General folder of 1120.
    • To share beginning-of-year basis balances and prior-year suspended basis losses for individual shareholders, enter
      X
       in the
      Data share beginning of year basis and prior year suspended losses
       field in the Shareholder Basis window.
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close