Publicly traded partnerships (PTPs) (1120)

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

Enter 3 in the Type of entity field in Screen K1 to indicate that a K1 is from a publicly traded partnership. UltraTax CS properly reports income, losses, and credits from the PTP on the applicable forms, schedules, and worksheets.

UltraTax/1120 provides a PTP Passive Activity Deduction Worksheet and a PTP Passive Activity Credit Worksheet to help track losses and credits for each PTP in a client's return.

Related topic: Passive activities overview

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