S-Corp Basis for 2nd owner not transferring from 2023 ProSeries to 2024 ProSeries

[ClintCPA]

Has anyone else noticed that the shareholder basis calculations for the 2nd owner for S-Corps with more than one owner did not transfer from the 2023 ProSeries software to the 2024 ProSeries software?

[IRonMaN]

You got one to transfer?  The one return I worked on is a two shareholder corp and opening basis is blank on both of them.

[ClintCPA]

The shareholder listed first in the return did transfer over, but the second one did not.  I only checked two returns thus far.  

[IRonMaN]

It's an easy fix on our side, but something we shouldn't have to do for something so basic.

[ClintCPA]

Worked with ProSeries support and I had to update the 2023 software, delete all 2024 S-Corp returns in the 2024 software and then re-transfer the 2023 1120S returns into the 2024 software and this appears to have corrected the basis issue.

[IRonMaN]

Yeah, that is a common curse with the software - transfer too early and be penalized with bugs.  Next year we should all wait until we are sure the transfers won't cause any issues.  September 14th maybe? 😬