Shareholder Information > Shareholder tab

Alerts and notices
Leave feedback

Contact information (optional):

Leave this blank:

Please tell us how we can make this information more helpful.


Characters left:

Use this tab to enter general shareholder information such as name, address, and ownership information. The application uses this information to complete both the federal and state returns. UltraTax CS automatically updates the information in the Shareholder spreadsheet at the top of the Shareholder Information window when you enter shareholder data in the tabs.

To update general shareholder information, open the Shareholder Information window, then click the Shareholder tab.

Tips

  • To add a new shareholder, click the Add Add button button. UltraTax CS opens a blank Shareholder tab in which you can enter the new shareholder's information. You can add up to 400 shareholders for each S Corporation.
  • To update an existing shareholder's general information, highlight the appropriate shareholder in the Shareholder spreadsheet at the top of the Shareholder Information window, then edit the information in the Shareholder tab.
  • To delete a shareholder, highlight the appropriate shareholder in the Shareholder spreadsheet at the top of the Shareholder Information window, then click the Delete Delete button button.

Fields & buttons

Information group box

Enter the shareholder's SSN or EIN. If you have applied for but not yet received a number, enter either a hyphen or the letter A as the first character in this field for UltraTax CS to print "Applied for." Enter the letter D if the shareholder died during the tax year. UltraTax CS prints "Died" on the shareholder's Schedule K-1. Enter M if the shareholder is Amish and UltraTax CS prints this information on the shareholders' Schedule K-1. If you enter a number without any hyphens, UltraTax CS defaults the hyphenation to SSN format.

Note: When the Require a password to display SSN checkbox is marked in the Setup > Security tab, UltraTax CS displays the Social Security number as "###-##-####." For more information on masking Social Security numbers, see Modify Password to Display SSNs dialog.

Enter the shareholder's name and U.S. address information in these fields.

Notes

  • In the State field, enter the shareholder's state postal code or select an option from the drop-down list for the field.
  • In the Resident state at year end field, enter the shareholder's state of residence at year end if residence is different from the shareholder's address. Use this field if you are integrating with a state program. Information entered in the Resident state at year end field is used to determine resident versus nonresident status.
  • If the shareholder's address is in Canada, you can enter the Canadian province code in the State field, and the Canadian postal code in the Zip code field. You do not need to complete the fields in the Foreign address group box.
  • If the shareholder does not have a U.S. address, see Entering a foreign shareholder address for more information.
  • In the Telephone number field, enter the shareholder's telephone number. UltraTax CS uses this information for state purposes only when applicable.

Enter the shareholder's email address if you send the Schedule K-1 package to the shareholder via email. See Emailing a shareholder K-1 package for more information.

Ownership group box

Enter the number of shares owned by the current shareholder as of the first day of the S Corporation's tax year. Shares can be entered as fractions up to three decimals. UltraTax CS tracks the number of shares owned at the end of each year. In subsequent years, UltraTax CS completes this field during the proforma process.

UltraTax CS calculates the individual shareholder's weighted percentage and displays the result in this field. If you want to override the shareholder's weighted average to be used in the allocation of shareholder items, enter the percentage desired in this field.

Note: If you override a shareholder's weighted average, UltraTax CS adds the override percentages to all other calculated percentages. If the total of all ownership percentages exceeds 100 percent, you need to either override each shareholder's weighted average percentage to adjust the total shareholder percentages to equal 100 percent, or delete your overrides. To delete your overrides, choose an option from the Edit > Overrides menu.

Click this button to open a dialog where you can enter changes in ownership and IRC 1377(a)(2) or 1.1368-1(g)(2)(i) election dates. You can also view the shareholder weighted average calculation by clicking the View Computation button.

Foreign address group box

Enter the foreign address information if the shareholder does not have a U.S. address. For more information, see Entering a foreign shareholder address.

Share This