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Federal input screens

Shareholder Information > Shareholder tab

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Use the
Shareholder
 tab to enter general shareholder information such as name, address, and ownership information. UltraTax CS uses this information to complete both the federal and state returns. UltraTax CS updates the information in the Shareholder spreadsheet on the
Shareholder Information
 window when you enter shareholder data in the tabs.
To update general shareholder information, open the
Shareholder Information
 window, then select the
Shareholder
 tab.
To  add a new shareholder, select
Add
 and enter the new shareholder's information on the
Shareholder
 tab. You can add up to 400 shareholders for each S Corporation.
To update an existing shareholder's general information, select the shareholder in the Shareholder spreadsheet on the
Shareholder Information
 window, then edit the information on the
Shareholder
 tab.
To delete a shareholder, select the shareholder in the Shareholder spreadsheet on the
Shareholder Information
 window, then select
Delete
.

Fields and buttons — Information group box

SSN / EIN
Enter the shareholder's SSN or EIN.
  • If you've applied for but not yet received a number, enter either a hyphen or
    A
     as the first character in this field for UltraTax CS to print "Applied for".
  • Enter
    D
     if the shareholder died during the tax year. UltraTax CS prints "Died" on the shareholder's Schedule K-1.
  • Enter
    M
     if the shareholder is Amish and UltraTax CS prints this information on the shareholders' Schedule K-1.
  • If you enter a number without any hyphens, UltraTax CS defaults the hyphenation to SSN format.
note
If the
Require a password to display SSN
 checkbox on the
Security
 tab is marked, UltraTax CS displays the Social Security number as "###-##-####." To view the checkbox, go to
Setup
, then the
Security
 tab.
Name and Address
Enter the shareholder's name and U.S. address information in these fields.
  • In
    State
    , enter the shareholder's state postal code or use the dropdown list.
  • In
    Resident state at year end
    , enter the shareholder's state of residence at year end if residence is different from the shareholder's address. Use this field if you're integrating with a state program. Information entered in
    Resident state at year end
     is used to determine resident versus nonresident status.
  • If the shareholder's address is in Canada, you can enter the Canadian province code in
    State
    , and the Canadian postal code in
    Zip code
    . You don't need to complete the Foreign address group box.
  • Enter the shareholder's
    Telephone number
    . UltraTax CS uses this information for state purposes only when applicable.
Email address
Enter the shareholder's email address if you send the Schedule K-1 package to the shareholder via email.

Fields and buttons — Ownership group box

Beginning of year shares
Enter the number of shares owned by the current shareholder as of the first day of the S Corporation's tax year. Shares can be entered as fractions up to 3 decimals. UltraTax CS tracks the number of shares owned at the end of each year. In subsequent years, UltraTax CS completes this field during the proforma process.
Override percentage ownership
UltraTax CS calculates the individual shareholder's weighted percentage and displays the result in this field. If you want to override the shareholder's weighted average to be used in the allocation of shareholder items, enter the percentage desired in this field.
note
If you override a shareholder's weighted average, UltraTax CS adds the override percentages to all other calculated percentages. If the total of all ownership percentages exceeds 100%, you need to either override each shareholder's weighted average percentage to adjust the total shareholder percentages to equal 100%, or delete your overrides. To delete your overrides, go to
Edit
, then
Overrides
.
Change of Ownership
Enter changes in ownership and IRC 1377(a)(2) or 1.1368-1(g)(2)(i) election dates. Select
View Computation
 to view the shareholder weighted average calculation.

Fields and buttons — Foreign address group box

Enter the foreign address information if the shareholder does not have a U.S. address.

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