Im having a mental block. Where do i enter capital contributions on a S Corp?
Thanks
Best Answer Click here
Unlike a 1065 there is no K-1 data entry for this. Only on Schedule L, balance sheet.
View solution in original post
APIC, or shareholder loan. On the balance sheet as dascpa says.
How about Part I Shareholder Stock Basis, line 2 ?
It says BASIS FROM ANY CAPITAL CONTRIBUTION?
Shouldn't the contribution go there, so the basis are increased?
yes
@Wiesia88
Do you mean Form 7203? Which is correct for 2021 returns.
The original question was for a 2020 return.
