Enter change of ownership information

Do the following to enter change of ownership information:
  1. Select
    View
    ,
    Partner Information
    , then
    Changes of Ownership
    .
  2. Select
    Add Date
    (or press CTRL+A), enter the dateĀ  the ownership changed, and select
    OK
    . (The date you enter must fall within the client's tax year.) UltraTax CS automatically adds a column for the date you entered and shows the percentage or unit from the previous column for each partner.
    note
    Mark the
    Enter end of year percentages
    checkbox to add the End of Year column to the Changes of Ownership window. The End of Year column is used to enter a change of ownership as of the last minute of the last day of the client's tax year.
  3. In the column you just added, update the percentages or units for partners whose ownership has changed.
    note
    • You can enter a partial portion of the ownership change and then select
      Distribute
      to distribute the remaining percentage (100 percent less the current total for profit, loss, or ownership capital) to selected partners and indicate whether the remaining percentage should be distributed equally or pro rata.
    • If the changes of ownership grid is displayed by Type, select
      Loss or Ownership Capital
      in the Changes of Ownership list to enter or update the loss or ownership of capital percentage or unit for partners whose ownership has changed.
  4. Enter additional ownership changes, up to 1 change for each day of the client's tax year, as needed. If you enter additional ownership changes, UltraTax CS automatically updates the percentages or units in each date column according to the percentages or units in the previous date column.
To view the partners' calculated prorated percentages:
  1. Select
    File
    then
    Print Reports
    in the
    Partnership Information
    window (
    View
    then
    Partnership Information
    ).
  2. Select
    Prorated percentage computation
    .
  3. Select
    Preview
    or
    Print
    .

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