Lacerte, entered a non-dividend distribution in excess of stock basis as a LTCG (S-Corp) is showing on Sch D on line 10, is there a way to have it show on line 12 Sch D

Forum|Forum|6 years ago
December 7, 2019
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Lacerte Tax

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Best answer by abctax55

Nope...and I don't think such a presentation would be correct as the gain is not generated at the Corporate level where it would apply to ALL shareholders. Distributions in excess of basis is determined at the shareholder level.

abctax55Answer

Level 15

Nope...and I don't think such a presentation would be correct as the gain is not generated at the Corporate level where it would apply to ALL shareholders. Distributions in excess of basis is determined at the shareholder level.

HumanKind... Be Both

W

wjgranoAuthor

Level 2

Sorry, to clarify, I meant to say at the shareholder level, on the 1040. The K-1 is from an S-Corp. When inputting the LTCG because there was a non-dividend distribution in excess of basis. It is not showing up on the Sch D line 12, but instead on line 10. Not at the corporate level, the shareholder level.

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