Follow these steps to enter shareholders' stock ownership for an s-corporate (1120S) return:
- Go to the Input Return tab.
- On the left-side menu, select Shareholder Information.
- Click on Shareholder Information.
- Verify that all shareholders have been entered here. Click the plus sign (+) near the top of your screen to add another tab, if needed.
- On the left-side menu, select Stock Ownership.
- Enter the number of shares owned at the Beginning of tax year and End of tax year for each shareholder.
If there was a change in stock ownership during the year, the program will compute a weighted-average ownership percentage for affected shareholders based on your entries here and in the Change in Stock Ownership screen. If you choose to manually calculate each shareholder's K-1 allocation percentage for the year, you can enter it in K-1 allocation percentage [Override], instead.