TaxAct® will allocate each shareholder's pro rata share of the distributive items reported on Schedule K (Form 1120-S) Shareholder’s Share of Income, Deductions, Credits, etc. (on page 3) according to their stock ownership. Ownership is computed on a daily basis. Enter each shareholder’s stock ownership at the beginning of the year through the K-1 Wizard during the Q&A.
Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.