S corp Capital Contribution

[jzellman]

Im having a mental block.  Where do i enter capital contributions on a S Corp?

Thanks

[dascpa · Accepted solution]

Unlike a 1065 there is no K-1 data entry for this.  Only on Schedule L, balance sheet.

[abctax55]

APIC, or shareholder loan. On the balance sheet as dascpa says.

[Wiesia88]

How about Part I Shareholder Stock Basis, line 2 ?

It says BASIS FROM ANY CAPITAL CONTRIBUTION?

Shouldn't the contribution go there, so the basis are increased?

[sjrcpa]

yes

[abctax55]

@Wiesia88  

Do you mean Form 7203?  Which is correct for 2021 returns.

The original question was for a 2020 return.