New (tax) year, new help!

Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.

Question

Which screen is used to complete Form 1120-PC, Schedule G?

Answer

To complete Form 1120-PC, Schedule G, enter data in the Schedule G - Other Capital Losses section in Screen PC.

If you are completing Schedule A, you do not need to enter data in the Losses paid field. UltraTax CS transfers the amount entered in the Losses paid during the tax year field in Screen PC-4 for Schedule F - Losses Incurred data section. Interest and net premiums received also transfers from data entered in other input screens. However, if the interest and net premiums received were not reported on the cash basis of accounting, enter amounts in the Interest received on cash method (Force) and Net premiums received on cash method (Force) fields in Screen PC.

If you are completing Schedule B, interest received transfers from data entered in other input screens. However, if the interest received was not reported on the cash basis of accounting, enter an amount in the Interest received on cash method (Force) field in Screen PC.

Was this article helpful?

Yes No

Submit