Interim Closing Annualization window (1065)

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IRS Regulations section 1.706-4(a)(1) defines the two methods to determine a partner's distributive share amount: interim closing of the partnership books and proration.

Use the Interim Closing Annualization window to determine the partners' distributive shares using the interim closing of the partnership books method. UltraTax CS uses the information you enter in this window and the percentages entered in the Changes of Ownership window in Partner Data Entry to calculate the distributive amounts.

To open the Interim Closing Annualization window, choose View > Interim Closing Annualization with a 1065 client open.

Notes

Components of this window

Interim Closing Annualization menu

Interim Closing Annualization toolbar

Annualization spreadsheet

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