Shareholder Information > California tab > Shareholder Basis dialog > Loan tab

Use the
Loan
tab to enter California shareholder loan basis. UltraTax CS combines the current-year loss and suspended loss amounts and determines the allowable amount based on the available stock and loan basis.
To update a shareholder's state-specific information, go to the
Shareholder Information
window, select the
California
tab, select
Shareholder Basis
, then the
Loan
tab.

Fields and buttons

Enter the beginning of year loan basis. UltraTax CS proformas this amount from the prior-year end-of-year loan basis.
Enter the amount of loans made to the corporation in the current year. If you leave this blank, UltraTax CS uses the amount from the federal worksheet. If you don't want an amount to appear, enter
0
(zero).
Enter the description and amount for items that increase a shareholder's loan basis here. If there are items that increase
all
of the shareholders' loan basis, open the
CAKSep screen
, enter the description and amount, then enter
A
in the
Basis
column. UltraTax CS increases the loan basis of each shareholder by an amount equal to the amount entered in the
CAKSep screen
, multiplied by the respective shareholder's ownership percentage.
Enter the description and amount for items that decrease a shareholder's loan basis here. If there are items that decrease
all
of the shareholders' loan basis, go to the
CAKSep screen
, enter the description and amount, and then enter
R
in the
Basis
column. UltraTax CS then decreases the loan basis of each shareholder by an amount equal to the amount entered in the
CAKSep screen
, multiplied by the respective shareholder's ownership percentage.
Enter the amount of the outstanding shareholder loan before any current-year loan repayments or current-year loans to the corporation. If you leave it blank, UltraTax CS uses the amount from the federal worksheet. If you don't want an amount to appear, enter
0
(zero). UltraTax CS proformas the amount entered here, less any current-year loan repayments, plus any current-year loans to the corporation, to the following year.
Enter the amount of loan repayments. If you leave this field blank, UltraTax CS uses the amount from the federal worksheet. If you do not want an amount to appear, enter
0
(zero) in this field.
The loan basis restored is calculated on line 10 of the CA Shareholder's Loan Basis Restored Worksheet. UltraTax CS transfers this amount to the
Loan basis
restored line on the
CA Shareholder's Basis Worksheet
. If you want to change the amount shown on the basis worksheet, enter an amount in
Loan basis restored (Force)
on in the
Loan
tab. If you don't want any amount to transfer to the
Loan basis
restored line on the
CA Shareholder's Basis Worksheet
, enter
0
(zero).
UltraTax CS calculates the amount of the loan basis used in calculating the gain recognized on the repayment of shareholder loan. If you want to change the amount of the loan basis that is used in the gain calculation, enter an amount here. UIltraTax CS transfers the amount you enter to
CA Shareholder's Basis Worksheet
.
UltraTax CS calculates the gain recognized on the repayment of shareholder loan. The gain is calculated on Page 1 of the
CA Shareholder Basis Worksheet
, and transfers to the
CA K-1
statements, line 17d. If you want to change the amount of gain that is shown in the
CA K-1
statements, enter an amount here. If you don't want any gain to show in the
CA K-1
statements, enter
0
(zero).
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