1120-US: Schedule K-1 statements not printing after making a section 1377 or 1368 election (FAQ)

Show expandable text

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

Why are Schedule K-1 statements not printing after making a section 1377 or 1368 election?

Answer

The detailed Schedule K-1 statements do not print when a section 1377 or 1368 election is made. Enter any separately stated items in the statement dialog for the Supplemental information field for each shareholder. To do this, choose View > Shareholder Information, and click the Other Info tab when a section 1377 or 1368 election is made, rather than entering the items in Screen KSep.

Related topic: 1120-US: Shareholder termination and qualifying dispositions FAQs

Was this article helpful?

Thank you for the feedback!