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 pension and IRA contributions for partners?

Answer

Enter the pension and IRA contributions in the Guaranteed payments: Pensions and IRAs field in Screens 4835-2, F-2, Inc, OGWell, and Rent. UltraTax CS automatically includes this amount as a guaranteed payment on the related activity. The amounts are also reported on Schedule K, lines 4 and 13d; and Schedule K-1, boxes 4 and 13, code R.

Enter the portion of pension and IRA contributions that does not represent guaranteed payments in the Other pensions and IRAs field in Screen K-2.

Related topic: Guaranteed payments FAQs (1065)

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