New (tax) year, new help!
Fixed Assets and UltraTax CS 2023 help is now on Help and Support. We're still moving articles, but you can find most content for the 2023 tax year there. Continue using the Help & How-To Center for tax years 2022 and older.
IC-DISC Combined Taxable Income
Enter 1 for 50-50 Combined taxable income or 2 for 4% Gross receipts. Enter the code or select the code from the fieldview. If you leave this field blank, the application defaults to the combined taxable income method. If you enter X in the Marginal costing field on this screen, then you do not need to complete this field since the 50-50 Combined taxable income method is required.
If the IC-DISC chooses to calculate the overall profit percentage under the optional method prescribed in Regulations section 1.994-2(c)(2), enter the profit percentage in this field. The application prints the percentage in Section A-2 of Schedule P. You should only complete this field if you enter X in the Marginal costing field on this screen.
2018 UltraTax CS
