1120-US: Allocating losses between stock and loan basis (FAQ)

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Question

How does UltraTax CS allocate losses between stock and loan basis?

Answer

The allocation of prior-year suspended losses and current-year losses is done on Page 2 of the Shareholder's Basis Worksheet. The total of the allowable nondeductible and deductible losses for both stock and loan basis transfers to the applicable lines on the Shareholder's Basis Worksheet, Page 1.

Related topic: 1120-US: Shareholder basis calculations FAQs

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