Set rounding tolerance for new clients
The default rounding tolerance for tying Schedules L, M-1, and M-2 balances to Page 1 income is $10. UltraTax CS applies this amount to new clients automatically unless you change it.
note
UltraTax CS automatically rounds for the following differences for all clients:
- Assets and liabilities on Schedule L. This is based on the amount entered in theMaximum amount for Schedule L roundingfield in theL-2screen.
- Taxable income on Page 1, line 28 and Schedule M-1, line 10. This is based on the amount entered in theMaximum amount for Schedule M-1 roundingfield in theMcscreen.
- SelectSetup,1120 Corporation,Federaltab, thenNew Client Options.
- Enter the amount for Schedule L rounding in theMaximum amount for Schedule L roundingfield.
- Enter the amount for Schedule M-1 rounding in theMaximum amount for Schedule M-1 roundingfield.
