1120-US: Entering shareholder losses that were disallowed by basis limitations from prior years (FAQ)

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Question

Where do I enter shareholder losses that were disallowed by basis limitations in prior years?

Answer

Prior-year losses that were disallowed due to the shareholder basis limitations are entered in the Suspended Losses tab in View > Shareholder Information > Other Info tab > Shareholder Basis dialog.

If the S Corporation return was prepared in UltraTax CS in the prior year, and the shareholder's limited losses will proforma in the following year.

Related topic: 1120-US: Shareholder basis calculations FAQs

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