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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.
Use the state tabs in the Shareholder Information window to enter state-specific information for shareholders. State tabs appear only if you have added states to the return.
To update a shareholder's state-specific information, click that shareholder in the Shareholder Information window, and then click the appropriate state tab.
Fields & buttons
New Jersey information group box
If the shareholder is a nonresident, enter a code from the following table or select the code from the drop-down list to indicate the type of nonresident filing to be made by the shareholder. If the shareholder is a nonresident, UltraTax CS defaults to treating the shareholder as consenting to file their own New Jersey tax return.
| Code |
Description |
| 1 |
Consenting shareholder (default)
This is the default filing for a nonresident shareholder when a code is not selected from the drop-down list. Select this option to indicate the shareholder is not subject to withholding. When you select this option, UltraTax CS does not calculate tax due on behalf of this shareholder. |
| 2 |
Nonconsenting shareholder
Select this option for any shareholder who does not consent to file an individual New Jersey return and does not join in the filing of a composite return on behalf of the nonresident shareholder. If you select this option, UltraTax CS calculates the tax due on behalf of this shareholder on Form NJ-K-1, Part II and uses the amount on Form CBT-100S, Schedule K, Part VII, column (F), and Form CBT-100S, Page 1. |
| 3 |
Composite filer
Select this option to indicate that the corporation is filing a composite return on behalf of a nonresident shareholder. If you select this option and the NJ-1080C Composite Return is selected in the File > Client Properties dialog, UltraTax CS completes Form NJ-1080C - Nonresident Composite Return and calculates the net tax due for all composite nonresident shareholders. |
Enter the amount reported on Form 1099-INT for this shareholder. This amount appears on Form NJ-K-1, Part V.
Enter the amount of debt from the corporation to this shareholder. This amount appears on Form NJ-K-1, Part V.
Enter the amount of debt from the shareholder to the corporation. This amount appears on Form NJ-K-1, Part V.
Enter the date on which the stock owned by the shareholder was fully disposed. UltraTax CS displays this date on Schedule NJ-K-1.
UltraTax CS provides this statement dialog for supplemental information specific to each shareholder. Use this statement dialog for items that are not pro-rata. If you have pro-rata items that need to be reported to each shareholder, use Section A in Screen NJKSep. UltraTax CS prints the information you enter in this statement dialog in the shareholder's NJ Schedule K-1 statements.
Schedule K, Part IV group box
Enter the beginning balance of the New Jersey Earnings and Profits account for new clients. This information is proforma'd for clients with prior-year data. If you leave this field blank, UltraTax CS uses the shareholder's pro-rata share from Form CBT-100S, Schedule K, Part IV.
UltraTax/1120-NJ uses federal distribution amounts, federal methods, and New Jersey account amounts to classify New Jersey distributions. If you want a different distribution, use this field to specify a distribution (dividend) from the New Jersey Earnings and Profits account.
If you enter an amount in any distribution field to get a different distribution, you must enter an amount for each shareholder for all of the New Jersey Earnings and Profits, New Jersey Accumulated Adjustments Account, and the Non-New Jersey Accumulated Adjustments Account accounts.
Enter the beginning balance of the New Jersey Accumulated Adjustments Account for new clients. This information is proforma'd for clients with prior-year data. If you leave this field blank, UltraTax CS uses the shareholder's pro-rata share from Form CBT-100S, Schedule K, Part IV.
UltraTax/1120-NJ uses federal distribution amounts, federal methods, and New Jersey account amounts to classify New Jersey distributions. If you want a different distribution, use this field to specify a distribution from the New Jersey Accumulated Adjustments Account.
If you enter an amount in any distribution field to get a different distribution, you must enter an amount for each shareholder for all of the New Jersey Earnings and Profits, New Jersey Accumulated Adjustments Account, and the Non-New Jersey Accumulated Adjustments Account accounts.
Enter the beginning balance of the Non-New Jersey Accumulated Adjustments Account for new clients. This information is proforma'd for clients with prior-year data. If you leave this field blank, UltraTax CS uses the shareholder's pro-rata share from Form CBT-100S, Schedule K, Part IV.
UltraTax/1120-NJ uses federal distribution amounts, federal methods, and New Jersey account amounts to classify New Jersey distributions. If you want a different distribution, use this field to specify a distribution from the Non-New Jersey Accumulated Adjustments Account.
If you enter an amount in any distribution field to get a different distribution, you must enter an amount for each shareholder for all of the New Jersey Earnings and Profits, New Jersey Accumulated Adjustments Account, and the Non-New Jersey Accumulated Adjustments Account accounts.
2018 UltraTax CS
