Hi,

I have recently learned that ProSeries does not keep track of stock basis on 1040 (I previously worked with CCH Axcess). I have a client with a S corp loss, but no basis. I do not know how I should enter K-1 with the loss in ProSeries so it generates correct amounts on SCH E. How do you keep track of basis if Proseries does not. I heard that other professionals keep a separate record for basis and unused losses. Everything in taxes is about basis(it affects QBI, charitable contributions) and I am surprised that Proseries is limited in this regard. Especially that now you are required to provide basis computation with SCH E if you report a loss or receive a loan repayment from an S corp or get a distribution. What do you do in this situation? What do you attach with 1040?  Does Proseries offer any template for basis calc and unused losses? It adds so  much extra work for the tax preparer. Do you charge extra your clients for basis calc? 

I would appreciate your help.

Thank you,