UltraTax CS defaults to Individual as the shareholder entity type. If the shareholder is not an individual, select the correct entity type from the drop-down list. UltraTax CS also uses the information in this field to complete Schedule J in the 1120-IC-DISC return.

Enter a unique salutation for the shareholder in this field. For example, the shareholder's first name. The transmittal letter already includes "Dear" in the salutation, therefore, do not enter Dear in this field.

Mark this checkbox if this is the shareholder's final year in the Interest Charge Domestic International Sales Corporation. UltraTax CS does not proforma shareholders to next year who have this checkbox marked.

Mark this checkbox if the shareholder is designated as the rounding shareholder. When you mark this checkbox, UltraTax CS allocates all rounding adjustments to the shareholder.

Mark this checkbox to request the transmittal letter for shareholders for whom you prepare returns. If this checkbox is not marked, UltraTax CS defaults to the standard transmittal letter for IC-DISC shareholders.

UltraTax CS does not print the Schedule K instructions in the Shareholder Package for shareholders that are marked as a client. If you want to print the Schedule K instructions for shareholders who are clients, choose Setup > 1120 Corporation > Federal tab. Click the Other Return Options button and mark the Print Schedule K-1 instructions when shareholder is a 1040 client (S Corp) checkbox in the Return Presentation tab.

Mark this checkbox to print the shareholder's transmittal letter in Spanish.

UltraTax/1120 automatically allocates the share of actual distributions paid from Other earnings and profits as the portion of taxable distributions entitled to a section 243 dividends-received deduction. Use this field to force the amount that is entitled to a section 243 dividends-received deduction for a C Corporation shareholder.

UltraTax/1120 automatically calculates the distribution not entitled to a section 243 dividends-received deduction as the difference between the total taxable distributions and the distributions entitled to a section 243 dividends-received deduction. Use this field to force the amount that is not entitled to a section 243 dividends-received deduction for a C Corporation shareholder.

UltraTax/1120 automatically allocates the total taxable distributions as taxable dividends. Use this field to force the amount of taxable dividends for a shareholder other than a C Corporation.

Enter the accumulated IC-DISC income attributable to the stock that was accumulated during the period the shareholder held the stock in the event:

• The shareholder disposes of stock in the IC-DISC or former DISC, or
• The stock of the IC-DISC, former IC-DISC, or former DISC is disposed of in a transaction that terminates the separate corporate existence.

Enter the shareholder's gain on the disposition of stock in the IC-DISC, former IC-DISC, or former DISC. The gain is reported to the shareholder as a dividend under section 995(c) and is included in the shareholder's income to the extent of accumulated IC-DISC income reported on Schedule K.

UltraTax CS prints the amount you enter in this field on the K-1 statements for Part III, Other Information.

Enter the shareholder's gain on actual distributions in excess of the basis in the stock for which the distribution was made. Actual distributions in excess of the shareholder's basis is treated as a gain from the sale or exchange of property.

UltraTax CS prints the amount you enter in this field on the K-1 statements for Part III, Other Information.

This statement dialog is provided for supplemental information specific to each shareholder. UltraTax CS prints the information you enter in this statement dialog on the K-1 statements for Part III, Other Information.