Skip to main content

Legal

Tax & Accounting

Trade & Supply

Risk & Fraud

News & Media

Books

Developers

Federal input screens

Shareholder Information > California tab > Shareholder Basis dialog > Stock tab

Use the
Stock
 tab to enter California shareholder stock 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
, the
Stock
 tab.

Fields and buttons

Enter beginning-of-year stock basis. UltraTax CS proformas this amount from the prior-year end-of-year stock basis. If you do not want an amount to appear, enter
0
 (zero).
Enter capital contributions made during the 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 particular shareholder's stock basis in these fields. If there are items that increase
all
 of the shareholders' stock basis, open
CAKSep screen
, enter the description and amount, and then enter
I
 in the
Basis
 column. UltraTax CS then increases the stock basis of each shareholder by an amount equal to the amount entered on the
CAKSep screen
, multiplied by the respective shareholder's ownership percentage. Also, if there are items in
Return deductions not on books
 on the
CAMs screen
 that increase all of the shareholders' stock bases, enter
C
,
T
, or
E
 in the
CA Sch M-2
 column of the statement.
If Schedule M-3 is required in lieu of Schedule M-1 and you have book / tax differences that you want to increase Schedule M-2 and the shareholder's stock basis, enter amounts manually on the
CAMs screen
.
UltraTax CS calculates the S Corporation’s gain or loss on the disposal of assets for which a section 179 expense deduction was previously passed through to the S Corporation shareholder. The shareholder’s share of the net gain transfers to page 1 of the CA Shareholder’s Basis Worksheet when
Transfer gain (loss) on disposal of Section 179 assets
 is marked on the 
CAKSep screen
.
If you want to change the amount of net gain on disposal of section 179 assets that's shown on page 1 of the CA Shareholder’s Basis Worksheet, enter an amount in this field. If you do not want any gain to show on the on the basis worksheet, enter
0
 (zero).
Enter the description and amount for items that decrease a particular shareholder's stock basis here. If there are items that decrease
all
 of the shareholders' stock basis, go to the
CAKSep screen
 and enter the description and amount, and then enter
D
 in the
Basis
 column. UltraTax CS then decreases the stock basis of each shareholder by an amount equal to the amount entered on the
CAKSep screen
, multiplied by the respective shareholder's ownership percentage.
UltraTax CS calculates the S Corporation’s gain or loss on the disposal of assets for which a section 179 expense deduction was previously passed through to the S Corporation shareholder. The shareholder’s share of the net loss transfers to page 2 of the
CA Shareholder’s Basis Worksheet
 when
Transfer gain (loss) on disposal of Section 179 assets
 is marked on the
CAKSep screen
.
If you want to change the amount of net loss on disposal of section 179 assets that is shown on page 2 of the
CA Shareholder’s Basis Worksheet,
 enter an amount here. If you don't want any loss to show on the on the basis worksheet, enter
0
 (zero).
UltraTax CS calculates the gain recognized on excess non-dividend distribution. The gain is calculated on Page 1 of the
CA Shareholder Basis Worksheet
, and transfers to the
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).
Chat now

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close