Skip to main content

Solutions

Products

Recommended products

Questions? We are here to help.
Contact us

Purchase

Questions? We are here to help.

Resources

Screens

Screen TNGen - Tennessee General Information (1040)

Show all hidden content

Overview

Use this screen to complete Pages 1 and 2 of the Form INC 250 return and the Report of Debts form. If information transferred from UltraTax/1040 does not require additional data or coding, UltraTax/1040-TN shows it on the form only, not in the input screen.
By default, the Tennessee Form INC 250 is printed when any income is taxable to Tennessee. To suppress printing Form INC 250 and all related forms when gross income is not greater than exemptions and there is not a refund due, a global option is available when you choose Setup, 1040 Individual, and then Tennessee tab.

Miscellaneous

Account number
The account number proformas from the prior year. If the taxpayer has not yet been assigned a number, the state will assign one on receiving a return with no account number.
note
An account number is not required to electronically file Form 250.
Qualifies for exemption (Force)
UltraTax CS automatically calculates whether or not the return qualifies for exemption based on the filing status, ages of the taxpayer and spouse, and income on the return. Use this field to force the return to qualify or not qualify for the exemption. The taxpayer is required to sign the return on Page 2 and also file an affidavit with the return when the exemption is claimed.
Suppress printing Forms INC 250 and INC 251 extension
Enter
X
 to suppress the printing of all individual Forms INC 250 and INC 251, worksheets, and statements for this client regardless of filing requirements. Amounts and data entry required to proforma to next year are not suppressed.
General footnote
Entries in this statement dialog proforma from the prior year. The general footnote appears as a separate item in each collation. This statement may be printed and attached to the return for informational purposes.

Computation of Taxable Income

Taxpayer e-mail (Force)
Entry in this field supersedes entry in federal screen Contact. Also, entry in this field will flow to page 2 of INC 250 regardless of the setting in 1040 Product Information, Other Return Options, Other, and then State.
Interest income / ... / Ordinary dividend income
Interest and dividend data from federal B&D, K1, and K1T Screens transfer to the statement dialogs attached to these fields when the
State
 field in the federal statement dialog is
TN
 and the
State use code
 field is coded either
2
 or
10
.
  • UltraTax CS transfers only the interest and dividend amounts that are coded
    2
     or
    10
     in the
    State use code
     field at the federal level. UltraTax CS automatically calculates the taxable and nontaxable portions for items coded
    2
     that include US Obligation or Municipal interest data entry. The entire amount is considered nontaxable for items coded
    10
    .
  • Interest and dividends can be allocated to a Limited Liability Company (LLC) by entering the LLC Unit number in the statement dialog. An entry in the LLC Unit Number column excludes the income and withholdings for the line item from the individual Form INC 250 calculation and creates a Form INC 250 return for the LLC. Other data required to calculate the INC 250 for the LLC is entered in TNLLC250 Screen in the TNLLC folder.
  • Capital gains from sources other than mutual funds are not reported on the Tennessee return. Only capital gains entered in federal B&D Screen,
    Dividend income
     statement dialog are transferred to this screen.
Other income
Descriptions and amounts entered in this statement dialog transfer to Schedule A of the return. Distributions of cash or property from S corporations or publicly traded partnerships entered on federal K1-5 Screen transfer to this statement dialog from the
State, if different
 or, if blank, federal fields. Distributions from partnerships that are not publicly traded are by default treated as non-taxable.
Amount if different
 fields are available to adjust the amount as needed. Additional line items may be added as needed.
note
Distributions from activities identified on federal K1 Screen as included in a Tennessee single member LLC transfer to the
Other income
 field on TNLLC250 Screen without data entry in this screen.

Report of Debts

Each question must be answered to complete the Report of Debts form if it is required when Form INC 250 includes a refund of $200 or more.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close