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Entering Shareholders Percentage of Stock Ownership

by Intuit Updated 3 months ago

Where do I enter the Shareholders' stock ownership?

  1. Go to Screen 6, Stock Ownership
  2. Enter the Number of Shares Owned at Year End for each Shareholder

Lacerte will automatically compute each shareholder's percentage of stock owned at year end based on the total number of shares entered for all shareholders. The input for Percentage of stock owned at year end (Screen 6, code 501) overrides the number of shares owned at year end.

For proper calculation of Schedule K-1 allocations, you must have an entry for each shareholder in either Number of shares owned or Percentage of stock owned.

If there is a change in stock ownership during the tax year, the program will compute weighted-average ownership percentages for affected shareholders based on your inputs for Screen 7, Change in Stock Ownership.  If you choose to manually compute each shareholder's K-1 allocation percentage for the year, you may enter it in K-1 allocation percentage [O] (Screen 6, code 502).

Also see Entering change of ownership for an S corporation (1120S) in Lacerte.

Lacerte Tax

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