Sharing data between members of a controlled group (1120)

Alerts and notices

To share data between members of a controlled group, complete the following steps.

  1. Complete the tax return for each member of the controlled group. Be certain the taxpayer identification number is entered in File > Client Properties, and the Part of controlled group field in Screen 1120 is marked.
  2. Preview the tax return for all the members of the controlled group.

    Note: UltraTax CS must calculate and preview or print all members of the controlled group to share the financial data correctly.

  3. Open each member's tax returns to import financial data to Screen Ctrl-2. If there is a new member in the controlled group this year, enter the corporation's EIN in Screen Ctrl-2, and UltraTax CS will automatically import the information.