17455: 1120S - Schedule K-1, Item D (Drake21)

S corporations are now required to report the total number of shares issued and outstanding at the beginning and end of the S corporation’s tax year. An entity without stock, such as an LLC, should enter the number of units or other equivalent to S corporation stock. For printing purposes, fractional shares entered are rounded to the nearest whole number (per the Form 1120-S instructions).

In Drake Tax, Item D, "Corporation’s total number of shares,” of Schedule K-1 is calculated automatically based on the number of “shares at start of year” entered for Item G on screen K1E and any ownership changes entered on screen OWN.

Use the fields in the “Total Shares Information” section of screen PRNT to override this calculation.