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Shareholder Information > Wisconsin tab > Shareholder Basis dialog > Loan tab
Show all hidden content
Use the Shareholder Basis to enter Wisconsin shareholder loan 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 Wisconsin
tab, Shareholder Basis
, then the Loan
tab.Fields and buttons
Beginning of year loan basis
Enter the beginning of year loan basis. If you do not want an amount to appear, enter
0
(zero). UltraTax CS proformas this amount from the prior-year end-of-year loan basis.Loans to corporation (Force)
Enter the amount of loans made to the corporation in the current 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 shareholder's loan basis. If there are items that increase all of the shareholders' loan basis, go to the
WIKSep screen
, enter the description and amount, then enter A
in the Basis
column. UltraTax CS increases the loan basis of each shareholder by the amount entered on the WIKSep screen
, multiplied by the respective shareholder's ownership percentage.Other decreases
Enter the description and amount for items that decrease a shareholder's loan basis. If there are items that decrease all of the shareholders' loan basis, go to
screen WIKSep
, enter the description and amount, then enter R
in the Basis
column. UltraTax CS decreases the loan basis of each shareholder by the amount entered on the WIKSep 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 loan basis to be reduced below zero. To avoid this, enter the limited amount.
Beginning of year shareholder loan (Force)
Enter the amount of outstanding shareholder loan before any current-year loan repayments or current-year loans to the corporation. 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). UltraTax CS proformas the amount entered, less any current-year loan repayments, plus any current-year loans to the corporation, to the following year. Loan repayments (Force)
Enter the amount of loan repayments. 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).Loan basis restored (Force)
The loan basis restored is calculated on line 10 of the
WI Shareholder's Loan Basis Restored Worksheet
. UltraTax CS transfers this amount to the Loan basis restored
line on the WI Shareholder's Basis Worksheet
. To change the amount shown on the basis worksheet, enter an amount in Loan basis restored (Force)
on the Loan
tab. If you don't want any amount to transfer to the Loan basis restored
line on the WI Shareholder's Basis Worksheet
, enter 0
(zero). Basis used in calculating gain on repayment (Force)
UltraTax CS calculates the amount of the loan basis used in calculating the gain recognized on the repayment of shareholder loan. To change the amount of the loan basis that is used in the gain calculation, enter an amount. The amount entered transfers to
WI Shareholder's Basis Worksheet
. Gain on repayment shareholder loan (Force)
UltraTax CS calculates the gain recognized on the repayment of shareholder loan. The gain is calculated on Page 1 of the
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 WI K-1 statements
, enter an amount. If you don't want any gain to show in the WI K-1 statements
, enter 0
(zero).