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Federal input screens

Shareholder Information > Wisconsin tab > Shareholder Basis dialog > Stock tab

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Use the
Stock
 tab to enter Wisconsin 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
Wisconsin
 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).
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. If there are items that increase all of the shareholders' stock basis, go to the
WIKSep screen
, enter the description and amount, then enter
I
 in the
Basis
 column. UltraTax CS increases the stock basis of each shareholder by the amount entered on the
WIKSep screen
, multiplied by the respective shareholder's ownership percentage.
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
WI Shareholder's Basis Worksheet
 when
Transfer gain (loss) on disposal of Section 179 assets
 is marked on the
WIKSep screen
.
To change the amount of net gain on disposal of section 179 assets that is shown on page 1 of the WI Shareholder's Basis Worksheet, enter an amount. If you don't 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 if you want the net gain to show on page 1 of the
WI 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. If there are items that decrease all of the shareholders' stock basis, go to the
WIKSep screen
, 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
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 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
WI Shareholder's Basis Worksheet
 when
Transfer gain (loss) on disposal of Section 179 assets
 is marked on the
WIKSep 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 WI Shareholder's Basis Worksheet, enter an amount in this field. If you do not want any loss to show on the on the basis worksheet, enter
0
 (zero) in this field.
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 if you want the net loss to show on page 2 of the
WI 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
WI Shareholder Basis Worksheet
, and transfers to the
K-1 statements
, line 17d. To change the amount of gain that is shown in the
K-1 statements
, enter an amount. If you leave this blank, UltraTax CS uses the amount from the federal worksheet. If you don't want any gain to show in the WI
K-1 statements
, enter
0
 (zero).

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