USA Do Notes Payable to Shareholder = Loans from Shareholder for Debt Basis Calculation?

[Olly]

Hello
I am confused with new 1120S K-1 Loans from Shareholder line.
Can you use notes payable to shareholder as a debt basis?

In which case, do you enter them as loans from shareholder on new K-1 Line H (S-Corp), because instructions are calling for 1120s Schedule L Line 19 to be used there and nothing about line 17 from the same schedule which is used in this case.

Is it possible or legal for that matter to reclassify notes payable to shareholder (S-Corp) to:

1. loan from shareholder or

2. split between note payable to shareholder and loan from shareholder or

3. split between (reclassify as)capital contribution and note payable or

4. split notes payable to shareholder into multiple loans from shareholder.


Thanks!