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Shareholder Information > Iowa tab
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Use the state tabs in the
Shareholder Information
window to enter state-specific information for shareholders. State tabs appear only if you've added states to the return.To update a shareholder's state-specific information, select that shareholder in the
Shareholder Information
window, then the state tab.Fields and buttons — Iowa information group box
Nonresident filer
If the shareholder is a nonresident, enter a code from the following table or select the code from the dropdown list to indicate the type of nonresident filing to be made by the shareholder. If the shareholder is a nonresident, UltraTax CS defaults to filing an individual income tax return for the shareholder.
Code | Description |
|---|---|
1 | Individual return filer (default) .This is the default filing for nonresident shareholder when a code is not selected from the dropdown list. Select 1 option to indicate the shareholder is filing an individual income tax return. |
2 | Composite filer .Select 2 to indicate the corporation is filing a composite return on behalf of the nonresident shareholder. UltraTax CS completes Form IA PTE-C for participating nonresident shareholders. |
Supplemental information
Use this statement for supplemental information specific to each shareholder and for items that are not pro-rata. If you have pro-rata items that need to be reported to each shareholder, use Section A in the
IAKSep
screen. UltraTax CS prints the information you enter in this statement in the Iowa Schedule K-1 statements.