Question

Why is Sch. K Line 16e (repayment of loans from shareholders) blank?

Forum|Forum|6 years ago
January 26, 2020
1 reply
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On the Balance Sheet, loans from shareholders is lower at year-end than at the beginning of the tax year. Doesn't this repayment of loans carry over to Scheduled K automatically?

TurboTax Business Windows

Rick19744

Employee

No. Balance sheet items are input manually.

Since I am on a MAC, can't see this program as it's Windows only, but I would imagine this item is input somewhere in the shareholder information section. I may be wrong, but that would be my suggestion to look there.

*A reminder that posts in a forum such as this do not constitute tax advice.Also keep in mind the date of replies, as tax law changes.

P

painthorsemomAuthor

You were correct! If you go to Forms, there is a Basis Info worksheet where you manually input the loan repayments info for each shareholder. Thank you for responding!