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1120S Shareholder K-1
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ptrost
Level 2
05-14-2021
03:36 PM
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Taxpayer just received their 1120-S K-1 showing an amount in Part 2, Line H Loans from shareholder. Where does this information come into play on the taxpayer's personal tax return? I'm thinking it should be reported on IRS Form 6198. Any help would be greatly appreciated. Taxpayer has a NOL due to the 1120-S K-1.
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dkh
Level 15
05-14-2021
03:53 PM
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Should be a Shareholder Basis Statement included with K1
