Distributing amounts to partners using the proration method

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Use this procedure to determine the partners' distributive share amounts using the proration method. The proration method is the default method UltraTax CS uses to distribute amounts to partners.

  1. Choose View > Partner Information.
  2. Click the Changes of Ownership button (or press CTRL+W).
  3. Click the Add Date Add Date button button (or press CTRL+A), enter the date the ownership changed, and click OK. (The date you enter must fall within the client's tax year.) UltraTax CS automatically adds a column for the date you entered and shows the percentage or unit from the previous column for each partner.
  4. In the date column you just added, update the percentage or unit for partners whose ownership has changed.
  5. Enter additional ownership changes, up to one change for each day of the client's tax year, as needed. If you enter additional ownership changes, UltraTax CS automatically updates the percentages or units in each date column according to the percentages or units in the previous date column.
  6. To view or print the computation of the partners' calculated prorated percentages, choose File > Print Reports, click the Prorated percentage computation option in the Print what group box, and click the Preview or Print button.

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