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

How do I enter data for Schedule K-1, Box 17 - Other information?

Answer

There are two ways of entering shareholder supplemental information.

• Enter amounts in Screen KSep in the Schedule K folder if you want an item to be allocated to all shareholders based on their ownership percentage. Enter a description and amount in the fields in the bottom section of the input screen. UltraTax CS allocates these items to each shareholder based on their respective ownership percentage.
• Enter amounts in the statement dialog for the Supplemental information field via the View > Shareholder Information > Other Info tab for each shareholder to allocate items to specific shareholders or based on an allocation method other than the shareholder's ownership percentage.

Related topic: 1120-US: Form 1120S - common FAQs

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