1065-US: Items automatically allocated using loss sharing percentages (FAQ)

Alerts and notices

Question

What items are automatically allocated using the loss sharing percentages?

Answer

By default, UltraTax CS uses the loss sharing percentages to allocate amounts for the following items for Schedule K-1 and other partner forms and worksheets.

  • Qualified nonrecourse liabilities
  • Recourse liabilities

Related topic: Allocating partnership items to partners FAQs (1065)