Im having a mental block. Where do i enter capital contributions on a S Corp?
Thanks
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Unlike a 1065 there is no K-1 data entry for this. Only on Schedule L, balance sheet.
Unlike a 1065 there is no K-1 data entry for this. Only on Schedule L, balance sheet.
APIC, or shareholder loan. On the balance sheet as dascpa says.
How about Part I Shareholder Stock Basis, line 2 ?
It says BASIS FROM ANY CAPITAL CONTRIBUTION?
Shouldn't the contribution go there, so the basis are increased?
yes
Do you mean Form 7203? Which is correct for 2021 returns.
The original question was for a 2020 return.
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