Generating a Shareholder Basis Statement in ProSeries

For more Schedule K-1 resources, check out our Tax topics page for Schedule K-1 where you'll find answers to the most commonly asked questions.

When working on an 1120S return in ProSeries you may want to generate a Shareholder Basis Statement. To turn this optional statement on:

1. Open the return to the S Corporation Information Workhseet.
2. Scroll down to Part IV - K-1 Information.
3. Under Calculate and print Shareholder's Stock and Debt Basis Limitations Worksheet check Yes.
4. Select the QuickZoom to the Shareholder Stock and Debt Basis Limitations Worksheet.
5. Select the Shareholders name and then Finish.
6. Use the Stock and Debt Limitations Smart Worksheet to adjust this shareholders basis.