1120-S: Entering Shareholder Contribution

[CCPAS]

New to Lacerte from UltraTax; currently working on a "test" return for 2019 and am struggling to enter an S-Corp shareholder's capital contribution (NOT a loan) for the year. I cannot identify any fields in Lacerte for this purpose, whereas there are two specific fields in UltraTax that address this to have basis properly calculated, as well as balance sheet. 

I do not want to net contributions with distributions.

[George4Tacks]

If you have not yet found the "test" returns provided, do a restore from C:\LACERTE\18TAX\DEMODATA\ (replace 18 with year in question. Change the SSN or EIN to all 9's and there will be no charge. There are samples for each type of return.

Now to your question. (1) Screen 9 - for each shareholder - "Other increases to stock basis (CTRL+E)" use a phrase like "Capital Contribution" with the amount. (2) Total the amounts and in Screen 32 "Other Additions (CTRL+E) - "Capital Contribution" with the amount. Review the balance sheet, AAA and Shareholder Basis worksheets to confirm your entries. 

Generally in Lacerte, if you know where you want an entry - Look at it in the Forms view > Find the line or box you want an entry in > RIGHT CLICK that box or line and select "Jump to Input". This is universal in all modules. Not every point is an entry point, but most are. 

Welcome to Lacerte and to the User Forum. 

[sjrcpa]

Welcome to Lacerte and to the User Forum that is going away any day now and being replaced by a poor substitute.