Publicly traded partnerships (PTPs) (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 3 in the Type of entity field in Screen K1 to indicate that a K1 is from a publicly traded partnership. UltraTax CS properly reports income, losses, and credits from the PTP on the applicable forms, schedules, and worksheets.

UltraTax/1120 provides a PTP Passive Activity Deduction Worksheet and a PTP Passive Activity Credit Worksheet to help track losses and credits for each PTP in a client's return.

Related topic: Passive activities overview

Share This