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Shareholder Information > California tab > Shareholder Basis dialog > Stock tab
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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
Beginning of year stock basis
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).Capital contributions
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).Other increases
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
.Gain on Section 179 assets (Force)
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).note
UltraTax CS doesn't calculate the shareholder’s share of the net gain or loss on disposal of section 179 assets when the corporation has made a terminating election under IRC 1377(a)(2) or a qualifying disposition election under IRC 1.1368-1(g)(2)(i). Enter the shareholder’s share of the net gain in this field if you want the net gain to show on page 1 of the
CA/ Shareholder’s Basis Worksheet
when a terminating election or qualifying disposition election was made.Other decreases
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.note
UltraTax CS does not limit the amount you enter here by the available basis. Therefore, the amount entered here can cause the shareholder's stock basis to be reduced below zero. To avoid this, enter the limited amount.
Loss on Section 179 assets (Force)
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).note
UltraTax CS doesn't calculate the shareholder’s share of the net gain or loss on disposal of section 179 assets when the corporation has made a terminating election under IRC 1377(a)(2) or a qualifying disposition election under IRC 1.1368-1(g)(2)(i). Enter the shareholder’s share of the net loss in this field if you want the net loss to show on page 2 of the
CA Shareholder’s Basis Worksheet
when a terminating election or qualifying disposition election was made.Gain on excess distributions (Force)
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).