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.

Question

How do I enter income from a private activity bond?

Answer

In the statement dialog for the Interest income field or the Dividends field on Screen Income, K1, or K1T, enter the total tax-exempt amount, including income attributable to private activity bonds issued after August 7, 1986 into the Tax-Exempt Amount field and enter the portion attributable to the private activity bond in the Private Act Bond field. Private activity bond amounts are used only for Schedule I calculations.

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