leveraged ESOP and filling out schedule I

[Guest]

help with Schedule I to make sure I am filling out correctly

in a leveraged ESOP,

company makes $400,000 contribution

and receives $800,000 in dividends.

$100,000 is paid in loan interest.

2(a)(1) Employer contribution = 400,000 + 800,000

2 © Other Income = increase due to change in share price

2 (h) other expenses = 100,000

Total assets = (# of shares * share price) - loan balance

3(d) ER securities = value of all shares

3(f) loans (other) = loan balance

thanks for any help

[Disco Stu]

I would make a couple minor modifications. I think that the 800,000 dividend is more appropriate on the "other income" line.

Also, I don't think it is appropriate to check line 3(f). I believe that they are looking for only assets with the items in question 3. The loan is a liability.

Just to clarify the asset/liability section...the total value of the stock would be an asset and the outstanding loan balance would be a liability. These total to line 1©.

[Guest]

thanks for the advice