Screen CTK1 - Connecticut Income from Other Entities (1120)

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General Information

Corporate partner qualifies for Section 1202 exclusion
Enter
X
if the S Corporation qualifies for the Section 1202 exclusion treatment for the Section 1202 gain received from the pass-through entity. If this field is marked, and there are amounts entered in the
Section 1202 gain
fields on this screen, the application will transfer the Section 1202 gains to Other Income on the CT Subsidiary Pass-through Entity K-1 Worksheet. If this field is not marked, amounts entered in the
Section 1202 gain
fields will transfer to Net long-term capital gain line on the CT Subsidiary Pass-through Entity K-1 Worksheet.

Tax Liability

Use this section to enter the member’s tax liability on Connecticut source income.

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