Jimmer

Hey that's awesome. Thanks so much. If I'm not mistaken I'm required to attach a basis schedule for each S Corp. Do you suppose I could just include this schedule?

It's a loss that was disallowed in the prior year because the stockholder didn't have enough basis to take it. Am I crazy or is that different than an at-risk loss? Maybe I'll just put it there and call it good, even though that doesn't seem right.

Is there no such thing as an S-Corp Basis Schedule in ATX. Do I just need to create another K-1 entry that says "Disallowed Prior Losses" and just put the prior year loss on line 1?

The problem is it's not really an at-risk limitation, and it's certainly not a passive activity. I'm baffled.

New to ATX this year. For the life of me, despite spending the last 3 hours trying to figure it out, including calling customer support, which was no help, I can't figure out where on a 1040 return to enter the shareholder's basis in an S-Corp. I know a statement of basis needs to be attached for owners of an S-Corp, but I likewise can't find such a statement in ATX. The bigger issue is, I have a loss in the prior year due to basis limitations. On the K-1 input screen I see passive loss carryover from prior year, and prior year at-risk loss carryover, but I can't find anywhere to put a prior year basis limitation carryover. In addition, I'd like to enter basis information in general. Thanks for any help you can provide.