1065-US: Using the proration or interim closing of books methods (FAQ)

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Question

How do I know if UltraTax CS is using the proration method or the interim closing of books method to distribute amounts to partners?

Answer

If there is a change of ownership during the tax year, UltraTax CS displays an FYI diagnostic that alerts you to the current method used to allocate amounts to partners.

For more information, see Distributing amounts to partners using the proration method and Distributing amounts to partners using the interim closing of books method.

Related topic: Allocating partnership items to partners FAQs (1065)

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