Applying a percentage of the total to ownership periods (1065)

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  1. Choose View > Interim Closing Annualization to open the Interim Closing Annualization window.

    Note: To open the Interim Closing Annualization window, you must have entered a change of ownership in the Changes of Ownership window in Partner Data Entry for the current client.

  2. Choose Edit > Apply Percentage, or click the Apply Percentage to Column Apply Percent button button on the toolbar.
  3. In the Apply percent to total field, enter the percentage that you want applied to the total amount. UltraTax CS multiplies the percent entered in this field by the amount in the Total column for all items.
  4. Select the desired ownership period from the drop-down list for the Ownership period field.
  5. By default, UltraTax CS applies the calculated values to the selected ownership period for the federal return and all state and city returns attached to the client. To apply the calculated values to a specific return only, select the return from the drop-down list for the Product field.
  6. Click the Apply button.

Note: If an amount already exists in any applicable field in the Annualization spreadsheet, you will be prompted to either overwrite the entered amounts with the UltraTax CS-calculated amounts or to skip fields with data entry and apply the percent only to empty fields.

Related topic: Interim Closing Annualization window (1065)

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