Screen MAUCr - Massachusetts Member's Credits (1120)

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Overview

Use this screen to complete Schedules CMS, Credit Manager; CRS, Credit Recapture; and U-CS, Credits Shared from Other Members; for unitary members filing Form 355U. To use this screen, you'll need to mark the
Principal reporting corporation
checkbox in the Massachusetts tab of the Client Properties window in the principal reporting corporation client only.
This screen is a multiple-unit input screen. The first unit of the input screen is always for the principal reporting corporation responsible for filing the unitary return for the group. A separate unit of the unitary input screens should be added for each affiliated corporation. For each affiliate, a unique unit number is assigned to the input screens in the Unitary folder.
The application lets you share Massachusetts Combined Return information from the affiliate returns to the principal reporting corporation’s return for members of a unitary group. For each affiliate to share data with the principal reporting corporation filing Form 355U for the unitary group, you'll need to enter the principal reporting corporation EIN in the Massachusetts tab of the Client Properties window. Don't mark the
Principal reporting corporation
checkbox. You'll need to print preview each affiliate’s return to store combined return information for data sharing.

Shared Credits

Credits shared from other members
The application uses the information entered in the attached statement to complete Schedule U-CS for credits being shared with the member from other members in the Massachusetts unitary group. Schedule U-CS will need to be filed by the member using the credits.

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