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Shareholder Information > Massachusetts tab > Shareholder Basis dialog > Suspended Losses tab
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Use the
Suspended Losses
tab to enter Massachusetts shareholder suspended pre-apportionment losses. 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 Suspended Losses
tab.Fields and buttons
Nondeduct/noncapital expense
Enter the nondeductible / noncapital expenses. UltraTax CS reduces basis by the amount you enter before reducing the basis by the deductible items, unless you enter
X
in Regulation 1.1367-1(g) election
on the federal Shareholder Basis
window. In that case, UltraTax CS reduces basis by the deductible items before the nondeductible / noncapital expenses.Ordinary loss and remaining amount fields
Enter the suspended loss for this item. For nonresident shareholders, enter the amount of suspended loss before apportionment has been applied. UltraTax CS calculates the amount of allowed loss by multiplying the basis available by a fraction, where the numerator is equal to the total loss amount (current-year plus suspended amount) for each deductible item, and the denominator is the sum of all deductible loss items (current-year plus suspended amount). This calculation is done for stock basis as well as loan basis.