AEMCPA
Level 1

Since details matter, you should have been more attentive.

I was responding to:

"Okay. In ProSeries, I went to the Basis Info Wks and entered the ending loan balance as "Stock Contribution" and as a "Loan repayment to shareholders" so the ending loan balance on the K-1s will be zero.

On the Balance Sheet, the loan balance is now showing as Additional Paid In Capital. I also still have the negative Retained earnings for the same amount. How do I zero out the Balance Sheet negative Retained Earnings balance?"

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