Okay. In ProSeries, I went to the Basis Info Wks and entered the ending loan balance as "Stock Contribution" and as a "Loan repayment to shareholders" so the ending loan balance on the K-1s will be zero.

On the Balance Sheet, the loan balance is now showing as Additional Paid In Capital. I also still have the negative Retained earnings for the same amount. How do I zero out the Balance Sheet negative Retained Earnings balance?