nytcpa2012
Level 4

I've completed the information on worksheet for disposition of S corp interest: I checked the box for disposition other than by sale, entered date shares purchased, date shares "sold", zero sales price and zero selling expenses, and final basis figure (have tracked on 1120S and using ending balance on Schedule M-2 of that tax return).  These entries correspond to the actions to be taken per "help" for dispositions other than by sale, BUT the software isn't calculating the loss on disposition (i.e., owner's remaining basis of $25,616) as the help section indicates it will.  What am I doing wrong? 

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Ephesians3-14
Level 8

Did you also check the FINAL K-1 box on the S Corp worksheet? (Not on the back page, buy the front page of the worksheet)

nytcpa2012
Level 4

I did.

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jeffmcpa2010
Level 11

Try $1 as sale price. Lots of places in proseries the software seems to read it as not to report.

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nytcpa2012
Level 4

results are Schedule D, long-term capital loss, so limit of $3k loss each year unless taxpayer has gains to offset.  But at least it's in there!  Thank you for your help.

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