ProConnect HelpIntuit HelpIntuit

How do I enter shareholders' stock ownership?

SOLVEDby Intuit1Updated over 1 year ago

Follow these steps to enter shareholders' stock ownership for an s-corporate (1120S) return:

  1. Go to the Input Return tab.
  2. On the left-side menu, select Shareholder Information.
  3. Click on Shareholder Information.
  4. Verify that all shareholders have been entered here. Click the plus sign (+) near the top of your screen to add another tab, if needed.
  5. On the left-side menu, select Stock Ownership.
  6. Enter the number of shares owned at the Beginning of tax year and End of tax year for each shareholder.

If there was a change in stock ownership during the year, the program will compute a weighted-average ownership percentage for affected shareholders based on your entries here and in the Change in Stock Ownership screen. If you choose to manually calculate each shareholder's K-1 allocation percentage for the year, you can enter it in K-1 allocation percentage [Override], instead.

Related Topics:

Was this helpful?

You must sign in to vote, reply, or post
ProConnect Tax

Sign in for the best experience

Ask questions, get answers, and join our large community of Intuit Accountants users.

Dynamic AdsDynamic Ads