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H
heflintax
Level 1
May 30, 2020
Question

Can I allocate 9 months of income and expenses to one shareholder and then allocate 3 months of income and expenses to 2 new shareholders on the form 1120S?

  • May 30, 2020
  • 2 replies
  • 26 views
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2 replies

George4Tacks
George4Tacks
Level 15
May 30, 2020
Sure you can.
Answers are easy. Questions are hard!
    dkh
    dkh
    Level 15
    June 1, 2020

    Start with the Schedule K-1 worksheet enter #of shares beginning of year/end of year.    If you're doing the actual income for 9 months/3 months ProSeries doesn't have a method for entering this information.  It will do a Weighted Average.      

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