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Federal input screens

Partner Data Entry > Partner tab

Use the
Partner
 tab in the
Partner Information
 window in
Partner Data Entry
 to enter demographic and general information, such as the partner's name and address, and other information to complete each partner's Schedule K-1 and transmittal letter. UltraTax CS uses this information to complete the federal and state returns.
  • To update an existing partner's general information, select that partner's name in the
    Partner Name
     list.
  • To add a new partner, select
    Add Partner
     .

Fields and buttons

Information group box
By default, UltraTax CS assigns partner numbers. To assign custom partner numbers directly in this field, select
Setup
, then
Custom Partner Numbers
.
Partner #
 includes alphanumeric characters (0-9 and A-Z) and special characters (such as -, &, or /) up to five digits or characters.
Enter the partner's entity directly in the field or select the entity type from the dropdown list. For new partners, UltraTax CS uses the default entity type as defined in
Setup
, then
Add Partner Default
.
Mark this checkbox to indicate that the partner is a nominee. UltraTax CS uses this information and the information in
Entity
 for the partner's entity type on Schedule K-1, Item I1.
Enter the partner's Social Security number (SSN) or Employer Identification Number (EIN). If you enter a number without any hyphens, the default is to hyphenate based on the partner's entity. Individual, disregarded entity, and estate partners default to SSN format. All other entities default to EIN format.
Enter the partner's name and address information in these fields.
Enter the partner's email address. When emailing Schedule K-1 packages directly to the partner, UltraTax CS uses this information as the email address.
Partnership representative group box
Mark this checkbox if this partner is the partnership's representative. UltraTax CS automatically transfers the information you enter in
SSN / EIN
, the name fields, the address fields, and the phone number field, to the
Designation of Partnership Representative
 section in the
Contact
 screen (or the
Filer
 screen for Form 8865 returns). If the partnership representative's entity isn't individual, enter the partnership representative designated individual’s SSN, address, and phone number.
Other information group box
Enter the type of partner or select the type from the dropdown list. For new partners, UltraTax CS uses the default type as defined in
Setup
, then
Add Partner Default
.
Mark this checkbox if the partner is an LLC member-manager. This field is available only if
Type
 indicates that the member is an LLC member. UltraTax CS uses this information for the type of partner on Schedule K-1, Item G.
Mark this checkbox to indicate that this is an active partner for purposes of the Analysis of Net Income (Loss).
Mark this checkbox if this is the partner's final Schedule K-1.
Mark this checkbox if the partner is a foreign partner. Enter information for Forms 8804 and 8805 in the
Federal
 tab.
Mark this checkbox to designate the partner as the rounding partner. UltraTax CS rounds each allocable item separately. When you mark this checkbox, an allocable item is rounded up if the remaining amount is $0.50 or more, and is rounded down if the remaining amount is $0.49 or less. UltraTax CS then allocates the net of all rounding adjustments to this partner. If this checkbox isn't marked, UltraTax CS rounds all allocable items, then distributes total leftover cents $1.00 at a time to the partners with the highest allocated amounts until all rounding adjustments are distributed.
Enter the partner's state of residency at year end if the state of residency is different from the partner's address or select the postal code from the dropdown list. UltraTax CS uses information you enter in this field on the state, city, and other returns. UltraTax CS automatically enters the postal code you enter in
State
. If you leave this field blank, UltraTax CS assumes that the partner is a resident of the state you enter in
State
.
Transmittal letter group box
Enter a unique salutation for the partner in this field; for example, the partner's first name. The transmittal letter already includes "Dear" in the salutation, so don't enter "Dear" in this field.
Mark this checkbox to automatically change the text of the transmittal letter for a partner for whom you prepare an individual 1040 return to remind the partner that you've retained a copy of the return and to call for an appointment to begin preparation. If this checkbox isn't marked, UltraTax CS uses the standard transmittal letter text for partners.
Mark this checkbox to print the partner's letter included in the partner package in Spanish.
Disregarded entity group box
Enter the identification number of the disregarded entity. UltraTax CS reports this on Schedule K-1, item H2 when the partner is a Disregarded Entity.
Enter the full name of the disregarded entity. UltraTax CS reports this on Schedule K-1, item H2 when the partner is a Disregarded Entity.
Beneficial owner group box
Enter the beneficial owner’s entity directly in the field or select the entity type from the dropdown list. UltraTax CS reports this on Schedule K-1, item I1, when the partner is a Disregarded Entity.
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