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Group tab (1120 Consolidated S and C Corporations)
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Use this tab to designate the parent, eliminations, and subsidiary companies to be included in the 1120 Consolidated S or C Corporation return.
To open this window, select
Advanced Properties
in either the New Client
or Client Properties
window for an S or C Corporation consolidated return, then select the Group
tab.note
- An eliminations client is used to exclude intercompany transactions between the consolidated group members from the consolidated client.
- Including an eliminations client as part of a consolidated group is optional.
Fields & buttons
C Corporations or S Corporations available
Lists all 1120C or 1120-S Corporation clients available for inclusion in this consolidated client.
- To designate theparentcompany for this consolidated client, select the client and chooseSelect Parent.
- To designate theeliminationscompany for this consolidated client, select the client and chooseSelect Eliminations. (An eliminations client is used to exclude from the tax calculations for the consolidated client any intercompany transactions among the consolidated group members.)
- To designate thesubsidiarycompanies (or QSSS members) for this consolidated client, select the client or clients and chooseSelect Subsidiary.
note
If you have a C Corporation that is a QSSS, you will need to clone the client, change the client to an S Corporation, and make any necessary data entry in the S Corporation input screens.
note
To sort the list of available clients by client ID or name, select
Client ID
or Name
in the title bar of the list pane.Select Parent button
To designate the parent company for this consolidated return, select the company in the
Clients available list
pane, then select this button.note
This button is not available if there are no clients in the
Clients available list
pane or if you have already selected the parent company.Select Eliminations button
To designate the eliminations company for this consolidated return, select the company in the
Clients available list
pane, then select this button.note
- An eliminations client is used to exclude intercompany transactions between the consolidated group members from the consolidated return.
- Including an eliminations client as part of a consolidated group is optional.
- This button is not available if there are no clients in theClients available listpane or if you have already selected the eliminations company.
Select Subsidiary button
To select the subsidiary companies (or QSSS members) for this consolidated return, select the companies in the
Clients available list
pane, then select this button.note
- This button is not available if there are no clients in theClients available listpane.
- If you have a C Corporation that is a QSSS, you will need to clone the client, change the client to an S Corporation, and make any necessary data entry in the S Corporation input screens.
Group members
Lists the clients you have selected to include in the consolidated return.
note
- To remove a client from this list, highlight the client and selectRemove. The client moves to theClients availablepane.
- To sort this list by client ID or name, selectClient IDorNamein the title bar of the list pane.
Remove button
To de-select a client, select the client in the list pane, then select this button. The client moves to the other pane.