Triva isn't available right now.
Check out the support page for our phone number and hours
Solutions
-
Corporations
-
Governments
Success stories
-
A true competitive advantage
Law firm Zarin Baum’s embrace of generative AI as the natural next step in the evolution of legal work and their adoption of CoCounsel Legal has helped them achieve remarkable efficiency gains and improved client relationships.
-
Workflow transformation drives impact
Brinks, a global leader in secure logistics and security solutions, used CoCounsel to reimagine what was possible with AI tools, turning legal challenges into a competitive advantage.
-
The forefront of audit tech
A better auditing workflow solution was the answer to multiple challenges faced by The Mercadien Group. Find out how they achieved greater efficiency by embracing Cloud Audit Suite.
Questions? We are here to help.
Products
-
Tax, audit & accounting
Recommended products
-
CoCounsel Legal
Transform your work with the only AI legal solution uniting research, drafting, and document analysis in a single experience. Designed by legal experts and built on trusted content and advanced AI, CoCounsel Legal accelerates multistep work so you can better serve your clients and grow your business.
-
CoCounsel Tax
Transform your tax practice with CoCounsel Tax, an AI-powered assistant that combines trustworthy answers, automation, and firm knowledge into one seamless platform. Enhance efficiency, reduce risk, and improve client confidence with CoCounsel Tax.
-
CLEAR
Powerful software designed for law enforcement, compliance, risk, and fraud investigators. Conduct thorough investigations with ease using our intuitive online investigation software. Efficiently, prevent, detect, and solve crime.
Questions? We are here to help.
Purchase
Resources
-
Product training
-
Product communities
-
Developers
Highlights
-
2026 SKILLS Showcase
Join weekly sessions to experience in-depth demonstrations of the leading legal AI products while connecting with strategic law firm leaders in knowledge management, innovation, and AI.
-
Ghosts on the ledger
Payroll fraud is a major compliance risk. Learn how payroll analytics and AI-powered tools can help exorcise phantom employees and employers.
-
Future of professionals report 2025
The Thomson Reuters Future of Professionals Report 2025 reveals how AI continues to shape professional work — and what it takes to get ahead. This year’s report shows that increased efficiency, productivity, and cost savings top the list of benefits professionals attribute to AI, making it indispensable for organizations facing rapid change.
Calculate the gain recognized on a shareholder's loan repayment
UltraTax CS follows Revenue Rulings 64-162 and 68-537 when calculating the gain on partial repayment of a reduced-basis shareholder loan. The nontaxable return of loan basis is calculated by taking the basis before the loan was repaid as a percentage of the balance of the shareholder loan at the beginning of the year. The total loan repayment for the year is multiplied by this percentage to calculate the nontaxable return of the loan basis. The difference between the loan repayment for the year and the nontaxable return of the loan basis is the gain recognized on repayment.
important
To calculate the amount of gain on the repayment, enter an amount in the
Beginning of year shareholder loan
field in View
, Shareholder Information
, the Other Info
tab, Shareholder Basis
, then the Loan
tab. This amount represents the outstanding shareholder loan before any current-year loan repayments and before any current-year loans to the corporation. The amount entered in this field, less any current-year loan repayments plus any current-year loans to the corporation, will proforma to the following year.The gain on partial repayment of the shareholder loan is calculated on the Shareholder's Basis Worksheet, Page 1, and transfers to the Schedule K-1 statements, Box 17 code for Other Information.
If you want to change the amount of gain displayed in the K-1 statements, enter an amount in the
Gain on repayment shareholder loan (Force)
field in the Loan
tab. If you don't want any gain to display in the K-1 statements, enter 0
(zero) in this field. The Shareholder’s Basis Worksheet doesn't reflect amounts entered in the Gain on repayment shareholder loan (Force)
field.This article applies to:
- PRODUCT: UltraTax CS
- Return type: 1120 Corporation
- Subject: schedule-k1-subject