George4Tacks
Level 15
09-13-2021
04:14 PM
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Look at the loans from shareholder at the end of year. Notice the [O]? That mean Override. Generally not where you want to make an entry. DELETE THAT ENTRY.
Instead look down the line from your Shareholders Basis Computation and find Loans made to S corp during tax year by shareholder. Notice it does NOT have the [O]. Generally all of your entries for your question should go here. The program is pretty robust and will do most of the work for you. Override is for those very few instances of something unusual that the program just won't do what it is supposed to do.
Answers are easy. Questions are hard!