Preparing 1120 Consolidated returns for electronic filing

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Follow this procedure to ensure you have entered all data specifically required for consolidated electronic returns and to create the consolidated electronic file. For each member in the consolidated group, perform the following steps.

Note: To electronically file an 1120 Consolidated return, a PRP is required for each member of the consolidated group if the firm does not have an unlimited license.

  1. Enter the client's tax data as usual, making sure you adhere to the guidelines for entering data.
  2. Click the Electronic Filing folder.
  3. Enter X in the File this return electronically field.
  4. Complete the Signature date field.

    Note: This field is mandatory if you use the Practitioner Personal Identification Number (PIN) option to electronically sign the return. If you select the Use current date option in the When Form 8879 (etc.) signature date(s) are not entered field in the Setup > Office Configuration > Print Options tab, you do not need to complete the Signature date field. UltraTax CS prints the current date on Form 8879 and includes the form in the electronic file.

  5. If you use the Practitioner PIN option, enter the PIN information in Screen ELF.

    Note: Even though you need to complete the PIN section for each member if you use the Practitioner PIN option, you need to print and have the taxpayer sign only one copy of Form 8879-C. Print this form or Form 8453-C from the consolidated client so that the consolidated name appears on the form.

  6. Choose View > Diagnostics to review the diagnostic messages in the Federal Diagnostics window. Click any item displayed in the window to open the corresponding screen to address the diagnostic message. Verify that you have cleared the Critical and ELF Critical diagnostic messages and have reviewed the FYI diagnostic messages and then close the Federal Diagnostics window.

    Note: You should review and clear diagnostic messages for each member of the consolidated group.

  7. With the consolidated client's return closed, choose File > Print Returns or click the Print Print button button to open the Print Returns dialog.
  8. When you create the federal electronic file, UltraTax CS automatically creates the state electronic file, if appropriate. UltraTax CS generates a state FYI diagnostic message that indicates a state electronic file was created. You can file a paper return for the state and suppress the creation of the state electronic file.

    Notes

    • The IRS will not permit you to submit additional paperwork to the taxing authority.
    • For state electronic filing information, refer to the State Electronic Filing Guide on our website.
  9. By default, the government collation includes only the forms required to be submitted to the taxing authority when you file an electronic return. To modify these collations, choose Setup > 1120 Corporation to open the 1120 Product Information dialog. Then, click the desired tab (Federal or state), and click the Tax Return button to modify the print collation for all electronic returns. For information about editing these collations, see Customizing the print collation for returns filed electronically. Thomson Reuters strongly recommends that you use the default collation. This will not affect which forms are included in the electronic file.
  10. Mark the Government copy and the Create electronic file checkboxes.

    Notes

    • To create the return or check the return for electronic filing errors without printing forms, mark only the Government copy and Create electronic file checkboxes in the Print Returns dialog.
  11. Click the Clients button and select all members of the consolidated group, including the consolidated client and the eliminations client, if applicable.
  12. Click the Print (or E-File) button to print the return on paper or click the To Cabinet button to send the return to FileCabinet CS. When you click the Preview button, UltraTax CS checks for errors in the electronic file. When you click the Print (or E-File) button or the To Cabinet button, UltraTax CS creates the electronic file and checks for errors in the electronic file.

    Note: You cannot preview the returns in UltraTax CS when you select multiple clients.

  13. When you are ready to do so, transmit the electronic return via CS Connect.

    Notes

    • CS Connect will list only the consolidated return for electronic filing, not the member returns.
    • The number to the right of the entity in the Product column in the CS Connect dialog is the number of months if the return is a short year / fiscal year return.

Notes

  • You cannot preview the returns in UltraTax CS when you select multiple clients.
  • To Preparing an S Corporation consolidated income tax return, you do not need to select all members of the 1120S consolidated group. Once you have completed data entry for all the members and generated the 1120S Consolidated return, create the electronic file as you would for any single-member client.
  • If you need to attach a Portable Document Format (PDF) document to the electronic file, you should attach the PDF with the consolidated return (not with the member returns).

For information about resolving electronic filing errors and rejections, see the E-File Help Center > Resolving E-File Errors, and then select 1120 Corporations from the drop-down list.

Related topic: Creating the 1120 electronic file and correcting errors overview

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