1065-US: Sharing partner basis information to 1040 and 1120 returns (FAQ)

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IRS filing deadline update

The IRS MeF system is now processing returns, and the filing deadline has been extended to 11:59 PM on Wednesday, April 18, 2018. For the latest details, see UltraTax CS alerts and notices.

Question

How do I share partner basis information to 1040 returns?

Answer

By default, data from the Partner Basis Worksheet will be shared with 1040 and 1120 returns, except the beginning-of-year basis and prior-year suspended losses. UltraTax CS assumes you are already tracking this information in the client's 1040 and 1120 returns.

Related topic: Partner basis FAQs (1065)

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