Annualization spreadsheet (1065)

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Use the Annualization spreadsheet to enter information for each period of ownership. UltraTax CS uses this information to determine the partners' distributive shares of each item. The spreadsheet consists of one tab each for the federal return and any state or city attached to the client.

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


  • You must enter the different ownership periods in the Changes of Ownership window in Partner Data Entry before you can enter annualization information. UltraTax CS uses these ownership periods to determine which columns appear in the Annualization spreadsheet.
  • UltraTax CS uses data entry from the federal and state input screens to determine the rows in the Annualization spreadsheet. If there are no items to be annualized, UltraTax CS displays "There are no items to annualize at this time."
  • Once information is entered for any item in the Annualization spreadsheet, UltraTax CS distributes all partners' distributive shares using the interim closing of partnership books method. If there is no entry for an item in the Annualization spreadsheet, UltraTax CS defaults the entire amount to the last period of ownership.

Spreadsheet columns

Related topic: Interim Closing Annualization window (1065)

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