TaxGuyBill,

This ProSeries basis limitation issue is going to be the death of me!!!  I want to see if I can run a scenario by you.  Here it is:

S-Corp client has disallowed losses of $187.9k due to basis limitations from 2019. 

Beginning shareholder basis in 2020 is $0.  2020 K-1 has $90.1k in ordinary income on line 1, $15.3k in tax exempt income (increases basis), and shareholder had $40.6k in draws and $0.1k in non-deductible items.  Basis looks like $0 beginning + $90.1k income + $15.3k tax exempt income - $40.6k draws - $0.1k non-deductible =$64.7k in available basis for 2020 to apply towards prior year losses.

I am trying to determine what amount to enter on line 1 of the 1040 ProSeries K-1 and what amount (if any) would go on Sched E, P2 for a PYA.

I was thinking $0 on line 1 of the K-1 and no PYA, but I am not so sure this is correct when I go back to review it. 

Your thoughts are appreciated.