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- How to enter more than 2 shareholders in Form 5472 Part II?
How to enter more than 2 shareholders in Form 5472 Part II?
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olgaates
Level 2
03-15-2023
08:15 AM
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We are preparing Form 5472s for a company that has 3 non-US shareholders, with each 33% shares. In Part II Line 4 and Line 5 indicates "direct shareholders" and Line 6 indicates "indirect shareholders". We are unable to enter the 3rd shareholder into Line 6 since all the shareholders are direct shareholders.
Is there a workaround for this on PTO other than manually adding a statement to list all the shareholders?
Also, why do we need to enter all the shareholders' information again and again in the "Foreign owned corporation info"? It would be great if we could enter all shareholder info in one place so that PTO can generate Form 5472s using it.
Thank you in advance for your help!
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4 Comments 4
George4Tacks
Level 15
03-15-2023
11:48 AM
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Add a New Tab
Check Return and find the form - click the blue part of 3rd member and it will jump to an input.
Here's wishing you many Happy Returns
olgaates
Level 2
03-16-2023
02:48 AM
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Thank you for your reply but this does not solve either problem as far as I understand.
George4Tacks
Level 15
03-16-2023
09:40 AM
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Contact Support EITHER https://proconnect.intuit.com/community/proconnect-tax-news-updates/discussion/proconnect-tax-assist... OR https://proconnect.intuit.com/support/en-us/help-article/intuit-account-settings/contact-proconnect-...
Here's wishing you many Happy Returns
olgaates
Level 2
03-17-2023
02:43 AM
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With all due respect, I do know how to contact PTO help. I posted this question to see if any PTO users know any workarounds.
