1120-US: Ordering for actual distributions for the IC-DISC (FAQ)

Alerts and notices
Leave feedback

Contact information (optional):

Leave this blank:

Please tell us how we can make this information more helpful.

Characters left:

MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to transmit e-files from CS Connect. Find out more.


Does UltraTax/1120 apply an ordering for actual distributions?


No. You need to enter the applicable amount of actual distribution in the appropriate Amount treated as distributed from fields in Screen DISC J in the 1120-IC-DISC folder. Also, enter the applicable amount of actual distribution in Screen DISC M in the Balance Sheet folder. For example, if the actual distribution was made from previously taxed income, enter the amount in the Amount treated as distributed from: Previously taxed income field in Screen DISC J, and in the Other decreases field in Screen DISC M.

Related topic: 1120-US: Form 1120-IC-DISC - Interest Charge Domestic International Sales Corporation FAQs

Share This