Skip to main content

Solutions

Products

Recommended products

Questions? We are here to help.
Contact us

Purchase

Questions? We are here to help.

Resources

Screens

Screen INGenS - Indiana Corporate Income Tax Return (1120)

Show all hidden content

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 appropriate amount in the field. The application then displays the new amount in black.
note
  • When you overrule a transferred amount, the application doesn’t overwrite 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 simply enter the original amount in the field.
  • To confirm 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 will need to enter it manually.
  • If desired, you can set a user preference to select fields for which you overruled the transferred amounts and to list all overruled amounts in the Diagnostics window.

Statements

Many data entry fields provide predefined statements in which you can enter additional information. For additional information, refer to the Statements overview.

Accessing FAQ

To view answers to common questions about calculations and data entry issues, select
Help
, 
Additional Resources
  then
Frequently Asked Questions
. For details, refer to Accessing FAQ (FAQs).

Apportionment

Apportionment information is entered in one place for all states attached to the return. To enter apportionment information for all states,
choose
View
 then
Apportionment
.
For details, refer to Entering 1120 apportionment data for state returns.

General Information

Indiana county or OOS
Enter the county of the client’s primary business location in Indiana in this field, or select the county from the dropdown list. If the primary business location is outside of Indiana, enter or select
OOS
.
Indiana taxpayer identification number (xxxxxxxxxx-xxx-x)
Enter the client’s Indiana taxpayer identification number. This field allows a 14-digit number to be entered. The full format of this identification number is represented by a 10-digit sequence, followed by a 3-digit sequence, and ending with a final digit. Enter dashes to separate sequences.
Elect to file and pay pass-through entity tax
Enter
X
 to indicate that the corporation has or is making the election to pay tax on its shareholders at the S corporation level. Making this election produces Schedule IN-PTET where the tax is calculated for all non-exempt shareholders.
Resident owners are subject to pass-through entity tax on apportioned income
Enter
X
 to calculate Indiana resident shareholders' income using apportioned amounts.  UltraTax CS defaults to using 100% of all income and deductions as shown on the Schedule IN K-1 for Indiana residents if this field is empty.
Print election Form IN-PTET
Enter
X
 to make the election to be taxed at the corporation level and to produce the election form, IN-PTET, along with the filing instructions and the mailing slipsheet.
Elect to pass the pass-through entity tax paid on corporation's behalf to shareholders
Enter
X
 to make the election to pass the excess PTET credit from upper tier entities through to the non-exempt shareholders of the corporation on Schedule IN K-1.

error-icon

Triva isn't available right now.

Check out the support page for our phone number and hours

error-close