1120-US: Determining patronage and nonpatronage business activity on Form 1120-C (FAQ)

Alerts and notices
Leave feedback

Internal Employees: Submit feedback

Contact information (optional):

Leave this blank:

Please tell us how we can make this information more helpful.


Characters left:

Change to CS Support service hours

Our Support department is closed on [[date]]. However, limited UltraTax CS phone support is available on that date from 9 AM - 5 PM ET due to the approaching deadline.

Links to our most popular tax processing topics are available in the Alerts and notices section on the right side of most pages.

Question

How does UltraTax/1120 determine if the business activity is patronage or nonpatronage?

Answer

Business activity from all sources (both patronage and nonpatronage) should be entered in Screen Inc in the appropriate fields. Business activity from patronage sources should be entered in the Allocation of Patronage Income and Deductions section of Screen 1120C. UltraTax/1120 assumes all business activity is from nonpatronage sources unless specified otherwise in Screen 1120C.

Related topic: 1120-US: Form 1120-C - Cooperative associations FAQs

Share This