Interim Closing Annualization window (1065)

IRS Regulations section 1.706-4(a)(1) defines the two methods to determine a partner's distributive share amount: interim closing of the partnership books and proration.
Use the
Interim Closing Annualization
window to determine the partners' distributive shares using the interim closing of the partnership books method. UltraTax CS uses the information you enter in this window and the percentages entered in the
Changes of Ownership
window in
Partner Data Entry
to calculate the distributive amounts.
To open the
Interim Closing Annualization
window, select
View
, then
Interim Closing Annualization
with a 1065 client open.
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