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Data Sharing

Data share basis information from an 1120S to a 1040 client

Beginning-of-year basis balances and prior-year suspended basis losses aren't automatically shared from 1120S to 1040 clients. If you need to share this information (for example, if this is the 1st year preparing a shareholder's return), you can indicate this in the application. For 1040 clients, end-of-year balances and carryovers proforma into the next year's application.
note
Data sharing beginning-of-year basis balances and prior-year suspended basis losses will replace any data proforma'd in 1040 for these items.
  1. Do 1 of the following to data share beginning-of-year basis balances and prior-year suspended basis losses from an 1120S client to a 1040 client:
    • To share beginning-of-year basis balances and prior-year suspended basis losses for all shareholders, enter
      X
       in the
      Data share beginning of year basis and prior year suspended losses for all shareholders
       field in the 1120S Information section of the 1120 screen, located in the General folder of 1120.
    • To share beginning-of-year basis balances and prior-year suspended basis losses for individual shareholders, enter
      X
       in the
      Data share beginning of year basis and prior year suspended losses
       field in the Shareholder Basis window.
    note
    To access this window in 1120, open an 1120 client, select
    View
    , 
    Shareholder Information
    ,
    Shareholder Basis
     on the Shareholder tab, then go to the
    Suspended Losses
     tab.

This article applies to:

  • PRODUCT: UltraTax CS
  • Return type: 1040 Individual
  • Subject: Data sharing

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