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Ghosts on the ledger
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Future of professionals report 2025
The Thomson Reuters Future of Professionals Report 2025 reveals how AI continues to shape professional work — and what it takes to get ahead. This year’s report shows that increased efficiency, productivity, and cost savings top the list of benefits professionals attribute to AI, making it indispensable for organizations facing rapid change.
Increase or decrease in the partner's share of liabilities calculation
UltraTax CS calculates the increase or decrease in the partner's share of liabilities by subtracting the prior-year value from the current-year value on Schedule K-1, item K, Partner's share of liabilities.
note
The prior-year value of a new or converted client can't be determined; therefore, the partner's share of liabilities increase or decrease may be incorrect. Use the
Share of partnership liabilities (Force)
fields in the Basis
screen to override the prior-year or current-year share of liabilities.This article applies to:
- PRODUCT: UltraTax CS
- Return type: 1065 Partnership
- Subject: schedule-k1-subject