Passive credits (1120)

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.

Enter current-year passive credits in Screens GBC-1, GBC-2, GBC-3, GBC-4, GBC-5, GBC-6, and GBC-7 in the activity's folder. Enter suspended passive credits from prior years in Screens PALCr and PALCrESB in the same activity folder. Suspended credits from passthrough entities are entered in Screens PALCr and PALCrESB in the K1 1065, 1041 folder. UltraTax CS generates Form 8810, if necessary, and reports the credits on any other applicable forms or schedules. UltraTax CS proformas the suspended-loss carryover from year to year.

Related topic: Passive activities overview

Share This