At-risk activities overview (1120)

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MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to access the electronic filing transmission feature in CS Connect.

Thomson Reuters is committed to proactively evolving our security features to help you protect your firm and your clients' data. For more information about multi-factor authentication, see Multi-factor authentication overview.

UltraTax/1120 automatically combines information you enter throughout the return and determines the allowed losses for an activity. UltraTax CS reports at-risk activity amounts on Form 4835, Schedule F, Page 1, and the Rent and Royalty Worksheet. In addition, adjustment amounts are calculated and transferred to Schedule D or Form 4797.

UltraTax CS reports recapture at-risk amounts on Form 1120, line 10, Other income and reports alternative minimum tax loss limitation adjustments on Form 4626.

UltraTax/1120 produces non-submittable worksheets to support at-risk activities. If the losses from the activity are limited by at-risk rules, the At-Risk Limitation Worksheet, the Oil & Gas At-Risk Limitation Worksheet, the Schedule F At-Risk Limitation Worksheet (Regular Tax and AMT), the Farm Rental At-Risk Limitation Worksheet (Regular Tax and AMT), and the Rent and Royalty At-Risk Limitation Worksheet provide a detailed audit trail showing the loss allowed and disallowed by each income and deduction type.

Related topic: 6198 - At-risk calculations FAQs (1120)

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