Schedule K (Form 1120-S) - Allocation of Distributive Share Items

TaxAct® will allocate each shareholder's pro rata share of the distributive items reported on Schedule K (Form 1120-S) Shareholders’ Pro Rata Share Items (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 from within your TaxAct Return during the Q&A.