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Shareholder Information > Massachusetts tab > Shareholder Basis dialog > Stock tab
Show all hidden content
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
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 don't want an amount to appear, enter
0
(zero) in this field.Capital contributions
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).Other increases
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.Gain on Section 179 assets (Force)
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.Other decreases
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.note
UltraTax CS doesn't limit the amount entered by the available basis. Therefore, the amount entered 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 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).Gain on excess distributions (Force)
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.Net Massachusetts adjustments (Force)
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
.Net federal adjustments (Force)
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).