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bawc79
Level 3
March 12, 2022
Solved

shareholder loan amounts on 1120-S K-1 are incorrect

  • March 12, 2022
  • 1 reply
  • 9 views

Shareholder loan amounts on the K-1s are being allocated based on ownership % instead of actual loan amounts. I have the correct amounts entered on the Sh Basis Wks and K-1 worksheets but PS is ignoring my numbers. Where else do I need to enter this information?

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Best answer by dkh

You mean for Part II line I , correct , PS auto inputs amount based on ownership% but you can type in correct amount on each K1

1 reply

dkh
dkhAnswer
Level 15
March 14, 2022

You mean for Part II line I , correct , PS auto inputs amount based on ownership% but you can type in correct amount on each K1

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