• Account Management
  • Update Firm Information
  • Update Addresses
  • Update Login Information
• PPR/ EF Activity
  • Increase PPR Balance
  • Client E-File Status
  • SBBT Funding Status
• Product Information
  • Download Products
  • Order Status
  • Product Licensing
  • Release Dates
• Support
  • Support Home
  • Top Support Topics
  • Newsletters
  • Phone Support

ProSeries Frequently Asked Questions

Form 1120S, Shareholder's Basis Statement May Be Incorrect

Products Affected:

• ProSeries/1120S
• ProSeries Express/1120S

Situation

Form 1120S, Shareholder's Statement of Basis, Part VIII - Loss and Expense Items, line 31, Items of loss and expense from Schedule K-1, may have a doubled entry when Form 1120S, page 3, Schedule K, line 12f, Casualty/theft loss on income property, has an entry with code J.

One entry appears on the basis statement with a blank description and the other appears with a full description.

Workaround

Override the first entry with the blank description.

This situation has been reported to our development team.

Did this information help you? Yes     No Does Not Apply     Comments about this page:   Note: You will not receive a personal response to your comment.