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Federal input screens

Screen Info - Carryforward Memos (1120)

Overview

Use this screen to enter other information that you want to keep track of from year-to-year as it relates to the preparation of the corporation's tax return.

Client Carryfoward Memos

Use the statement to enter descriptive information that is useful to have on hand when preparing the return. For example, you could enter additional business locations.
Use the statement to record the details of stock purchases to assist in the preparation of Schedule D data entry at the time of their sale.
The Record of stock purchases statement contains all of the fields located in the Detail schedule statement in the D screen, located in the Schedule D folder. Upon closing the Record of stock purchases statement dialog, any item with data in the
Date Sold
 and
Sales Price
 fields automatically transfers to the statement in Screen D and is included in the return. You will be prompted to confirm the transfer of such items upon closing the Record of stock purchases statement. Once transferred, any future modifications must be made in the Detail schedule statement in the D screen.
Section 481(a) adjustment reported on the prior year Form 3115 proformas to this field. Use the information in the statement to track the amount of the adjustment you include in the tax return. The section 481(a) adjustment is not automatically included on the tax return.
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