Entering shareholder information

Alerts and notices

Use the following procedure to enter and update information for shareholders of subchapter S Corporations. UltraTax CS uses the shareholder information to calculate each shareholder's percentage of ownership and to complete federal and state returns.

  1. Choose File > Open Client and open the appropriate S Corporation client.
  2. Click the Shareholder Information Shareholder Information button button (or choose View > Shareholder Information) to open the Shareholder Information window. The Shareholder spreadsheet is at the top of the window.
  3. To enter information for a new shareholder, choose Shareholder > Add. To update information for an existing shareholder, highlight the appropriate shareholder in the Shareholder spreadsheet and update the shareholder tab at the bottom of the window.
  4. In the Shareholder tab at the bottom of the window, enter general information such as the shareholder's name, address, and ownership information. This information is used to complete both the federal and state returns.
  5. Click the Other Info tab and enter information for Form 1120S, each shareholder's Schedules K-1, and the shareholder transmittal letters. You can also access the shareholder basis information from the Other Info tab.
  6. Click the Schedule B-1 tab and enter applicable information, if the beneficial owner is not the registered owner of the S Corporation stock.
  7. If you are processing a new S Corporation return and need to complete Form 2553, click the 2553 tab. Enter the information needed to complete Form 2553, Election by a Small Business Corporation. You will also need to complete the 2553 screen in the Elections folder.
  8. If you are processing one or more state returns for this client, click the appropriate state tabs and enter state-specific shareholder information. Note that the state tab appears only if you have added the state return for the client and if the state requires state-specific shareholder information.


  • Pressing PAGE DOWN or PAGE UP while on a field takes you to the same field for the next or previous shareholder in the list. For example, if the cursor is located in the Supplemental information field for the first shareholder and you press PAGE DOWN, the cursor moves to the Supplemental information field for the second shareholder. This is helpful if you want to update the same information for multiple shareholders.
  • You can add up to 400 shareholders for each S Corporation client.
  • To delete a shareholder, highlight the appropriate shareholder in the Shareholder spreadsheet at the top of this window, then click the Delete Delete button button or choose Shareholder > Delete.