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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 confirm that the transferred amounts reported in the Family Transfer Report are correct based upon the dependent/child's return?

Answer

The following worksheets in UltraTax/1040 will provide support for the dependent amounts transferred via the Family Transfer Utility. 

• Dependent Modified Adjusted Gross Income — UltraTax/1040 calculates the Dependent Modified Adjusted Gross Income Worksheet when X is entered in the Dependent of another field on Screen 1040 (General folder). The worksheet is located at the bottom of the Itemized/Standard Deductions & Dependent MAGI worksheet.
• Kiddie Tax (Form 8615) Information — UltraTax/1040 provides the Taxpayer's Information For Use When Preparing Other Children's Returns Using Parent's Information worksheet with the child's return.

Related topic: Family Transfer Utility FAQs 

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