Enter a loan repayment for a shareholder
Do the following to enter a loan repayment for a shareholder.
- SelectView,Shareholder Information, theOther Infotab,Shareholder Basis, then theLoantab.
- Enter the loan repayment amount in theLoan repaymentsfield.
UltraTax CS uses the amount entered in this field for the items affecting shareholder basis section of Schedules K and K-1 and the Loan Basis section of the Shareholder's Basis Worksheet, Page 1. UltraTax CS also uses the amounts entered in this field when calculating any gain recognized on repayment of shareholder loans.
