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Shareholder Information > Massachusetts tab > Shareholder Basis dialog > Stock tab

Use the
Stock
 tab to enter Massachusetts shareholder stock basis. UltraTax CS combines the current-year 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
Massachusetts
 tab, select
Shareholder Basis
, then 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 don't want an amount to appear, enter
0
 (zero) in this field.
Enter the amount of capital contributions made by the shareholder 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. If there are items that increase all of the shareholders' stock basis, open the
MAKSep screen
, enter the description and amount, and then enter
I
 in the
Basis
 column. UltraTax CS increases the stock basis of each shareholder by an amount equal to the amount entered on the
MAKSep screen
, multiplied by the respective shareholder's ownership percentage.
UltraTax CS calculates the shareholder's share of 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 shareholder. The shareholder's share of the net gain transfers to page 1 of the
MA Shareholder's Basis Worksheet
.
To change the calculated amount, enter an amount. If you don't want any gain to show on the on the basis worksheet, enter
0
 (zero) in this field.
Enter the description and amount for items that decrease a particular shareholder's stock basis. If there are items that decrease all of the shareholders' stock basis, go to
screen MAKSep
 and enter the description and amount, then enter
D
 in the
Basis
 column. UltraTax CS decreases the stock basis of each shareholder by the amount entered on the
MAKSep screen
, multiplied by the respective shareholder's ownership percentage.
UltraTax CS calculates the shareholder's share of 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 shareholder. The shareholder's share of the net loss transfers to page 2 of the
MA Shareholder's Basis Worksheet
.
To change the calculated amount of net loss on disposal, enter an amount. If you don't want any loss to show on the basis worksheet, enter
0
 (zero).
UltraTax CS calculates the pre-apportioned gain recognized on excess non-dividend distribution. To change the calculated amount, enter an amount.  If you don't want any gain, enter
0
 (zero).
For resident shareholders, the calculated gain on excess distributions transfers to the supplemental information statement on Schedule SK-1. For nonresident shareholders, the pre-apportioned gain on excess distributions calculates on the
MA Shareholder’s Basis Worksheet
, but you need to enter an amount here to transfer to the supplemental information statement on Schedule SK-1.
UltraTax CS calculates the net Massachusetts adjustments based on the
MA Shareholder's Basis Worksheet
. To change the amount of adjustment, enter an amount. If you don't want any amount to show on Schedule SK-1, enter
0
 (zero). When you enter an amount, UltraTax CS suppresses the calculation of the
MA Shareholder's Basis Worksheet
.
UltraTax CS calculates the net federal adjustments based on the federal
Shareholder's Basis Worksheet
. To change the amount of adjustment or if the federal
Shareholder's Basis Worksheet
 is not calculating, enter an amount. If you don't want any amount to show on Schedule SK-1, enter
0
 (zero).
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