Recalculating prior-year returns to generate after carryback amounts

You can recalculate the prior-year tax returns to generate the after carryback amounts for Form 1139. You can do this automatically if the returns were prepared in UltraTax CS. If the prior-year tax return wasn't prepared using UltraTax CS, you may need to calculate the amount manually.
  1. Open the prior year client.
  2. Go to the
    Amend-2
    screen, then the
    Separate Filings
    folder.
  3. Enter the carryback information.
  4. Review the corporation's prior-year recalculated tax return, then complete Form 1139 for the current year.
  5. Go to the
    1139
    screen, then the
    Carryovers
    folder.
  6. Enter the recalculated amounts from the prior-year return in the
    After Carryback
    column.
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