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Federal input screens

Shareholder Information > North Carolina tab

Use the state tabs in the
Shareholder Information
 window to enter state-specific information for shareholders. State tabs appear only if you've added states to the return.
To update a shareholder's state-specific information, select that shareholder in the
Shareholder Information
 window, then the state tab.

Fields and buttons — North Carolina information group box

If the shareholder is a nonresident, enter a code from the following table or select the code from the dropdown list to indicate the type of nonresident filing to be made by the shareholder. If the shareholder is a nonresident, UltraTax CS defaults to individual return filer and shareholder agreement on file.
Code
Description
1
Individual return filer and shareholder agreement on file (default)
.
This is the default filing for nonresident shareholder when a code is not selected from the dropdown list. Select
1
 to indicate the shareholder agreement is already on file. UltraTax CS does not complete Schedule NC-NA for this shareholder.
2
Individual return filer and shareholder agreement required
.
Select
2
 to indicate an agreement is required for the nonresident shareholder. UltraTax CS completes Schedule NC-NA.
3
Composite filer
.
Select
3
 to indicate the corporation is filing a composite return on behalf of the nonresident shareholder.
Enter the date the nonresident became a shareholder in the S Corporation if completing Schedule NC-NA for the shareholder in the current tax year.
If the shareholder is completing Schedule NC-NA in the current tax year, enter the shareholder's tax year-end. If you leave this field blank, UltraTax CS defaults to December 31.
Enter the code for the shareholder's title from the following table or select the code from the dropdown list. UltraTax CS completes Form NC-NA. If you leave this blank, the shareholder's title defaults to Shareholder.
Code
Description
H
Shareholder (default)
D
Director
E
Chief Executive Officer
F
Chief Financial Officer
C
Chief Technology Officer
I
Chief Information Officer
M
Chief Marketing Officer
O
Chief Operating Officer
P
President
R
Chief Risk Officer
V
Vice-President
S
Secretary
T
Treasurer
Enter the date the shareholder signed and completed Schedule NC-NA.
Use this statement for supplemental information specific to each shareholder and for items that are not pro rata. If you have pro-rata items that need to be reported to each shareholder, use Section A on the
NCKSep
 screen. UltraTax CS prints the information you enter in this statement in a supporting statement on North Carolina's Schedule NC K-1.

Fields and buttons — Depreciation adjustments group box

Enter the amount of Section 168(k) depreciation addback for the indicated tax years. UltraTax CS uses this information in the calculation of the composite shareholder's income.
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