1120-US: Form 1120-C deductions being limited (FAQ)

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Why are the other deductions being limited by UltraTax/1120?


Any patronage source losses cannot be used to offset nonpatronage income. UltraTax/1120 automatically generates an adjustment to reduce other deductions when patronage source losses exceed patronage source income reported on Schedule G.

Related topic: 1120-US: Form 1120-C - Cooperative associations FAQs

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