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Screen COGenS - Colorado Pass-Through Entity Income Tax Return (1120)

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Federal-to-state input screen and asset module data transfer

If information is transferred from federal input screens or from the asset module to a state input screen, the application displays the transferred data in blue, for example:
If necessary, you can overrule the transferred amount by entering the proper amount in the field. The application then displays the new amount in black.
note
  • When you overrule a transferred amount, the application doesn’t replace that amount with subsequent federal-to-state or asset module data transfers.
  • To delete the overruled amount and restore the original transferred amount, right-click the field and select
    Delete overrule
     or enter the original amount in the field.
  • To verify the accuracy of the overruled amount, right-click the field and select
    Acknowledge overruled data
    . The application then disables the acknowledge functionality from the right-click menu. To restore the original amount later, you'll need to enter it manually.
  • If you want, you can set a user preference to mark fields for which you overruled the transferred amounts and to list all overruled amounts in the Diagnostics window.

Statements

Many data entry fields give predefined statements in which you can enter more information.

Accessing frequently asked questions

To view answers to common questions about calculations and data entry issues, select
Help
,
Additional Resources
, then
Frequently Asked Questions
.

Apportionment

Apportionment information is entered in 1 place for all states attached to the return. To enter apportionment information for all states, select
View
, then
Apportionment
.

General Information

Business or profession
Enter a description of the corporation’s business or profession in this field. The application uses this information to complete Form 106, Page 1. If this field is blank, the application defaults to the business activity reported on the federal return.
Final return, if different from federal Screen 1120
Enter
X
 if this is a final Colorado return. If this field is blank and the federal return is a final return, the application assumes the Colorado return is a final return and marks the proper field on Form 106, Page 1.
note
Returns marked as final in the previous year do no proforma to the current year. If the federal return is marked as final, the client doesn't appear in the list of clients that are available to proforma.
Explain IRS adjustments or amended returns filed during the last four years
Access the statement window attached to this field. If an explanation is entered in this statement window, the checkbox
If the I.R.S. has made any adjustments to your federal returns or you have filed amended federal returns during the last four years
 on Form 106, Page 1 is marked and the explanation is reported with the return.

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