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Federal input screens

Partner Data Entry > Special Allocation of dialog

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UltraTax CS automatically allocates most partnership amounts to the partners using the profit-sharing percentage. Use the
Special Allocation of
 window to specially allocate an amount to the partners in a manner that differs from the default allocation method. You can also use the
Allocations
 window in
Partner Data Entry
 to specially allocate all amounts to the partners in a manner that differs from the default allocation method.
To use the
Special Allocation of
 window, enter the total amount to allocate in the field and select
Ptr Alloc
 to open the
Special Allocation of
 window for that field.
To open the
Allocations
 window in
Partner Data Entry
, select
View
, then
Partner Information
, and select
Allocations
.
note
The
Custom Allocation Scheme
 window is similar to the
Special Allocation of
 window and is used to set up a custom allocation scheme. A custom allocation is a defined allocation that, once set up, is available for selection in the
Special Allocation of
 window for use as special allocations. To set up a custom allocation scheme, select
Edit
, then
Create Custom
 in the
Allocations
 window in
Partner Data Entry
, or select the
Custom
 checkbox and enter a unique title in the
Special Allocation of
 window for percentage and unit allocations.

Fields and buttons

Allocation scheme group box
UltraTax CS automatically allocates most partnership amounts to partners using the profit sharing percentage.
Specially allocate
Mark this checkbox to allocate an amount in a manner that differs from the default allocation method. Then, select an option in the
Allocation scheme
 group box to define the allocation.
note
To remove the special allocation for an amount, clear the
Specially allocate
 checkbox.
US: <allocation name>
Select this option to allocate a state allocation using the defaulting federal allocation. This allocation type is marked automatically for a state allocation when
Default state partner special allocations to the corresponding federal special allocation
 is selected on the federal
CltOptns
 screen.
note
This option is only available on a state allocation that has the ability to default to a federal allocated amount.
Percentage
Select this option to use a single percentage column to specially allocate the amount to the partners.
Units
Select this option to use a single unit column to specially allocate the amount to the partners.
Absolute dollar
Select this option to use a single absolute dollar column to specially allocate the amount to the partners.
Loss
Select this option to specially allocate the amount to the partners based on the loss-sharing percentages entered in the
Allocations
 window in
Partner Data Entry
.
Advanced
Select this option to use more than one allocation method to specially allocate the amount. (For example, to use both an absolute dollar column and a percentage column.)
Define Scheme button
Select this button to open the
Advanced Allocation Scheme
 window to select multiple allocation methods.
note
This button is available only if you select
Advanced
.
Custom
A custom allocation scheme is a percentage allocation or a unit allocation that you enter once then save so that the scheme is available for re-use.
  • To add a custom percentage or unit allocation, select
    Percentage
     or
    Units
    , and enter the partners' allocation. Then, mark the
    Custom
     checkbox, and enter a unique title.
  • To re-use a previously-defined percentage or unit custom allocation, select
    Percentage
     or
    Units
    . Then, mark
    Custom
     checkbox, and select the previously-defined custom allocation title from the dropdown list.
Partners to view group box
All partners
Select this option to show all partners.
Partners with amounts
Select this option to show only partners that have an amount allocated to them in the
Partner Amount
 column. This option is available only on allocations that don't filter partners.
Only applicable partners
Select this option to show only partners who meet the criteria of a filtered allocation. For example, in the allocation for
Gross farming or fishing income
 in the
K-3
 screen, only those partners subject to self-employment are shown. This option is available only on filtered allocations.
Applicable partners and partners with amounts
Select this option to show partners that
  • have an amount allocated to them in the
    Partner Amount
     column even if they don't meet the criteria of the filtered allocation.
  • meet the criteria of the filtered allocation but have no amount allocated to them.
This option is available only on filtered allocations.
Other fields and buttons
Special Allocation grid
In the columns in this grid, add, edit, or delete the partner note; view the partner's allocated amount for Schedule K-1; or enter the amount, unit, or percentage of the amount to allocate to each partner. The option you select in the
Allocation scheme
 group box determines which columns appear.
  • Select the field in the
    Partner Note
     column for a partner to open the
    Field Note/Tick
     window to add, review, modify, or delete the partner's note.
  • The
    Partner Amount
     column shows the total amount to allocate and the amounts that will print on each partner's Schedule K-1 and other partner worksheets and reports for the item.
  • Columns with a
    %
     heading are percentage columns. When not also using a unit component, the final percentage column will need to always equal 100 percent.
  • Columns with a
    $
     heading are absolute dollar columns.
  • Columns with a
    #
     heading are unit columns.
  • Columns with
    >$
     and
    >%
     headings are the greater of columns.
note
Select a column heading to sort the grid information in ascending order. Select the column heading again to sort the grid information in descending order.
Distribute button
Select this button to open the
Distribute
 window to distribute a remaining percentage or amount equally or pro rata to specific partners.
note
Distribute
 is available only if there's a percentage or amount that still needs to be distributed.

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