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Consolidation

Add a Form 1120 consolidated return

Follow these steps to add a Form 1120 consolidated return.
  1. Select
    File
    , then
    New Client
    .
  2. Select
    1120
     in the
    Federal
     tab. Select
    Consolidated C
     from the dropdown.
  3. Select
    Advanced Properties
    .
  4. Select the
    Group
     tab.
  5. To add the parent company for the consolidated return, select the company name in the C Corporations available to consolidate group list, then
    Select Parent
    .
  6. To add the eliminations company for the consolidated return, select the company name in the C Corporations available to consolidate group list, then
    Select Eliminations
    .
    note
    Including an eliminations return as part of a consolidated group is optional.
  7. To add a subsidiary company for the consolidated return, select the company name in the C Corporations available to consolidate group list, then
    Select Subsidiary
    . Add more subsidiary companies as needed.
  8. Select the
    Options
     tab. In addition to the amounts that UltraTax CS automatically combines, you may select more amounts to combine for a consolidated return. Mark the checkbox for each category you want to add. All member values in each category marked will combine into the consolidated return.
    note
    If a category isn't marked, enter the data on the input screens in the consolidated return. The following is a list of categories and the related input screens.
    • Payments: PmtExt, Payments section
    • Credits: GBCGen; Forms 3468, 6765, 8820, and 8835 sections
    • Taxes: J, Other Taxes section
    • Section 179 Carryover: NOL, Section 179 section
    • Contributions Carryover: NOL, Contributions section
    • Section 1231 Losses Carryover: CO, Section 1231 Losses section
  9. Select
    OK
     to close the Advanced Properties window.
  10. Select
    OK
     again to close the New Client window.

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