Disposition of passive activities (1120)

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Enter a code in the Disposition of activity field in the primary input screen if you are disposing of the client's entire interest in the activity in a fully taxable transaction. UltraTax/1120 calculates and reports the income and deductible loss for the activity. This code is available on the primary input screens discussed previously. The following examples assume you are not disposing of assets in the asset module.

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