Partner Data Entry > Transfers of Capital Accounts dialog

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Use this dialog to select the default capital account adjustment for transferring and receiving partners for new transfers of capital subsequently added to the partnership in the Transfers of Capital window in Partner Data Entry.

To open the Transfers of Capital Accounts dialog, choose View > Partner Information, click the Transfers of Capital button, and then choose Setup > Transfers of Capital Accounts.

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By default, UltraTax CS adjusts Property distributions for transferring partners in a transfer of capital. To change the default capital account adjustment for transferring partners, select a different component from the drop-down list. This capital account adjustment selection applies to any transfers of capital you subsequently add.

By default, UltraTax CS adjusts Property contributions for receiving partners in a transfer of capital. To change the default capital account adjustment for receiving partners, select a different component from the drop-down list. This capital account adjustment selection applies to any transfers of capital you subsequently add.

This dialog opens the first time you enter the Transfers of Capital window in Partner Data Entry. If you do not want this dialog to open the first time you enter the Transfers of Capital window, mark this checkbox. You can still open this dialog in the Transfers of Capital window; to do so, choose Setup > Transfers of Capital Accounts. To prompt this dialog to open again the first time you enter the Transfers of Capital window, choose Setup > 1065 Partnership, click the Other Return Options button, click the Other tab, and mark the Prompt to enter transfers of capital defaults the first time Transfers of Capital is accessed checkbox.

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