2018 UltraTax CS
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
Is there a supporting schedule in UltraTax/1040 for tax exempt interest reported on Forms 1040, line 2a?
Answer
Yes. If you have entered tax-exempt interest or dividend income in Screen B&D, Broker, K1-2, or K-1T, UltraTax CS prints a nonsubmittable statement providing detail on all tax-exempt income reported on line 2a.
Note: Although the IRS does not require tax-exempt interest and dividends to be reported separately on Schedule B, UltraTax CS provides an option to print the tax-exempt amounts on Schedule B. To do so, choose Setup > 1040 Individual and click the Other Return Options button. In the Other Return Options dialog on the Return Presentation tab, mark the Print tax-exempt interest and dividends on Schedule B checkbox.
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