1120-US: Transferring inventory to Schedule L and Form 1125-A for CS Professional Suite accounting application users (FAQ)

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MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to access the electronic filing transmission feature in CS Connect.

Thomson Reuters is committed to proactively evolving our security features to help you protect your firm and your clients' data. For more information about multi-factor authentication, see Multi-factor authentication overview.

Question

My 1120 client's general ledger has only one inventory amount. How can I transfer the amount to both Form 1125-A and Schedule L?

Answer

If you use the tax code number for ending inventory on Form 1125-A, UltraTax CS automatically transfers the inventory to the Schedule L balance sheet.

Related topic: 1120 frequently asked questions

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