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Tax Explorer
Level 5
February 13, 2024
Solved

Where to Put Contributions from Shareholders on 1120-S?

  • February 13, 2024
  • 3 replies
  • 66 views

Hi,

Does anyone know where to put contributions from shareholders on the Form 1120-S?

 

 

This topic has been closed for replies.
Best answer by abctax55

APIC?

SH Loan?

3 replies

IRonMaN
IRonMaN
Level 15
February 13, 2024

Those would go on the balance sheet and on the shareholders' basis schedules.

Slava Ukraini!
    abctax55
    abctax55Answer
    Level 15
    February 13, 2024

    APIC?

    SH Loan?

    HumanKind... Be Both
      T
      Tax ExplorerAuthor
      Level 5
      February 14, 2024

      Do you think it's appropriate for capital contributions to be put under capital stock? Weird that the IRS doesn't provide instructions for this as its common for shareholders to contribute money into their S-Corps, especially when the S-Corps are incorporated.

      IRonMaN
      IRonMaN
      Level 15
      February 14, 2024

      Were they issued more stock for the money or did they just pay in additional capital?

      Slava Ukraini!
      abctax55
      abctax55
      Level 15
      February 14, 2024

      APIC may/or may not be allowed per state law.

      And the IRS 'has' addressed this - see the basis computations/analysis and the relatively new Form 7203 reporting at the F.1040 level.

      HumanKind... Be Both
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