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

Use the state tabs in the Shareholder Information window to enter state-specific information for shareholders. State tabs appear only if you have added states to the return.

To update a shareholder's state-specific information, click that shareholder in the Shareholder Information window, and then click the appropriate state tab.

Fields & buttons

Massachusetts information group box

If the shareholder is a nonresident or pass-through entity, enter a code from the following table or select the code from the drop-down list to indicate the type of filing to be made by the shareholder. If the shareholder is a nonresident or pass-through entity, UltraTax CS defaults to marking the shareholder's declaration election code on Schedule SK-1, Page 3 as Withholding.

Code Description
1

Withholding (default)

When a code is not selected from the drop-down list, this is the default filing for nonresident and pass-through entity shareholders. Select this option to indicate the shareholder is subject to withholding. UltraTax CS marks the shareholder's declaration election code on Schedule SK-1, Page 3, as Withholding and completes the withholding amount on Schedule SK-1, Page 3 with the amount entered in the Withholding amount field in the Withholding information group box.
2

Composite filer

Select this option to indicate the corporation is filing a composite return on behalf of the nonresident shareholder. UltraTax CS completes Form MA NRCR for participating nonresident shareholders and marks the shareholder's declaration election code on Schedule SK-1, Page 3 as Composite.
3

Nonresident individual filing own return

Select this option to indicate the shareholder is exempt from withholding because the shareholder is a nonresident individual and agrees to file all required tax returns and make quarterly estimated tax payments as required by the state. UltraTax CS marks the shareholder's declaration election code on Schedule SK-1, Page 3 as Member self-file.
4

Pass-through entity, trust or estate filing a return

Select this option to indicate the shareholder is exempt from withholding because the shareholder is a pass-through entity trust, estate, or custodial account and agrees to file all required tax returns and make quarterly tax or withholding payments as appropriate. UltraTax CS marks the shareholder's declaration election code on Schedule SK-1, Page 3 as Member self-file.
5

Pass-through entity, all members exempt from withholding

Select this option to indicate the shareholder is exempt from withholding because the shareholder is a pass-through entity and all the shareholder's members are exempt from withholding. UltraTax CS marks the shareholder's declaration election code on Schedule SK-1, Page 3 as Exempt PTE.
6

Pass-through entity's only source of distributive income

Select this option to indicate the shareholder is exempt from withholding because the shareholder is a pass-through entity and has no Massachusetts source distributive share, other than from this corporation and this corporation has agreed to accept exemption certificates from or withhold directly on the shareholder's members. UltraTax CS marks the shareholder's declaration election code on Schedule SK-1, Page 3 as Exempt PTE.

Mark this checkbox if the corporation is exempt from nonresident withholding and Form PTE-EX was filed in a previous year. If this checkbox is marked, UltraTax CS does not calculate and print Form PTE-EX for this shareholder.

Mark this checkbox if the corporation is a bank. If this checkbox is marked, UltraTax CS marks the Bank checkbox for the type of shareholder on Schedule SK-1, Page 1.

UltraTax CS automatically allocates the amount entered in the Portfolio deductions subject to 2% floor, Other portfolio deductions, and Other separately stated deductions fields in Screen MAS among the shareholders, based on their respective ownership percentages. For shareholders whose allocations are different from those calculated by UltraTax CS, use the statement dialog to enter the allocated amounts. UltraTax CS overrides the calculated amounts with the amounts you enter in the statement dialog.

If you use data sharing or are calculating the shareholder basis worksheets, indicate the type of deduction by entering one of the codes listed in the following table or choosing from the drop-down list.

Code Description
1 Portfolio deductions - subject to 2% floor
2 Portfolio deductions - other
3 Section 179 deduction

UltraTax CS provides this statement dialog for supplemental information specific to each shareholder. Use this statement dialog for items that are not pro-rata. If you have pro-rata items that need to be reported to each shareholder, use Section A in Screen MAKSep. UltraTax CS prints the information you enter in this statement dialog in the Schedule SK-1 statements.

Composite return group box

Enter the amount of estimated payments made by the corporation for this shareholder. UltraTax CS reports this amount on Schedule SK-1, Page 3.

Enter the amount of estimated payments made by a lower-tier entity in which the corporation is a member and for which this shareholder gets a share on Schedule SK-1, Page 3.

Withholding information group box

Enter the amount of nonresident withholding paid by the corporation for this shareholder. UltraTax CS reports this amount on Schedule SK-1, Page 3.

Enter the amount of nonresident withholding paid by a lower-tier entity in which the corporation is a member and for which this shareholder gets a share on Schedule SK-1, Page 3.

Shareholder Basis group box

Enter the federal basis date if other than 12/31/85.

Enter the number of shareholder's shares.

Enter the amount of the shareholder's federal basis.

Click this button to enter Massachusetts shareholder basis information.

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