Jimmer

Jimmer, there is a form you can add to the return called "Permanent Data", or something like that. In the form there are numerous tabs for tracking things for the taxpayer. One tab has an S-corp basis tracking spreadsheet. Just look in the Index tab, then bunny-hop to the S-corp tab. Hope this is what you are looking for. There are also loss carryover and I think at-risk tracking entries you can make right in the K-1 input forms, toward the bottom of the input forms.

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?

Jimmer-

I'm not aware of a basis schedule in ATX for the 1040 either. I would have thought form 6198 as well. if not passive or at risk, what is the prior year loss from? That may give us a clue as to the best way to report.

Julie

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?

One place to look is Form 6198 at risk basis limitation.

I am not sure I have ever seen a place to enter the an S Corporation basis in the 1040 package.

I use a spreadsheet if I need to track the basis other than where you mentioned in the entity return.

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.