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Federal input screens

Screen CltOptns – Client Options

Overview

You can select these options one time to apply to all new clients subsequently added to the application. To do so, mark the checkboxes in the
New Client Options
 window. To open the
New Client Options
 window, select
Setup
,
1065 Partnership
 and select
New Client Options
.

Client Options

Enter
X
 to proforma the amount in
Indirect percent for maximum profit, loss, or capital
 in the
Federal
 tab in the
Partner Information
 window in
Partner Data Entry
.
Enter
X
 to include specially allocated depreciation with its specific activity.
  • Form 1065, Page 1:
     Schedule K, Other income (loss)
  • Cost of Goods Sold:
     Schedule K, Other income (loss)
  • Schedule F:
     Schedule K, Other income (loss)
  • Farm Rental:
     Form 8825, Depreciation
  • Rental Real Estate:
     Form 8825, Depreciation
  • Other Rent:
     Schedule K, Expenses from other rental activities
  • Royalty:
     Schedule K, Royalties
  • Other Portfolio:
     Schedule K, Other deductions
Enter
X
 to default state partner allocations to the federal allocations, when the state allocation has a direct correlation to a federal allocation. For state and federal allocations to have a direct correlation, the
Ptr Alloc
 field data entry will need to be at the same level (such as input screen or statement) and the amount to be allocated will need to be calculated or entered in the same manner.
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