2018 UltraTax CS
Setup procedures
- Setting options for all 1040 clients
- Setting options for new 1040 clients
- Entering marginal oil production percentage depletion rates
Processing returns
Amended returns
- Completing Form 1040X
- Adding for removing dependents on an amended return
- Amending a return that has already been amended
- Amending returns for merged or Domestic Partner clients
- Manually adjusting original information amounts for Form 1040X
- Printing 1040X and amended filing instructions
- Removing an amended return
Dual-status and nonresident returns
Multi-state returns
- Processing multiple-state returns
- Entering state allocation data for 1040 state returns
- Printing state allocation information reports
- Deleting state allocation information
Other procedures
Estimates
- Applying a refund to second or later estimates
- Applying a portion of an overpayment to next year's estimated tax when no estimated tax is due
- Generating estimate vouchers that fit IRS envelopes
- Generating separate estimated payments for taxpayer and spouse
- Paying estimates via credit or debit card
- Printing 1040 estimate instructions with only the estimated payment amounts that have a balance due
- Printing estimate vouchers
- Printing "Paid" on 1040 estimate instructions
- Printing scannable vouchers
Extensions
- Preparing 1040 extensions
- Preparing 1040 federal extensions for electronic filing
- Creating batch 1040 electronic extensions
- Including estimated tax penalties in the balance due on extensions
Foreign tax credits and earned income
- Enter foreign taxes paid on dividends
- Prepare Form 1116 with Form 2555
- Foreign interest and dividend data entry
- Entering U.S. days (bona fide residence test) and travel information (physical presence test) for Form 2555
Home offices
- Entering home office information
- Entering a disposition of a personal residence which includes a home office
- Entering multiple home office
Minister wages and church employee income
- Entering minister wages and housing allowance information subject to self-employment tax
- Entering unused housing allowance income
- Entering church employee wages subject to self-employment tax
- Retired ministers and housing allowance
Net operating losses
- Using UltraTax CS to carry back a net operating loss
- Using UltraTax CS to carry back a net section 1256 contracts loss
- Using UltraTax CS to carry back a used general business credit
Retirement accounts
- Converting a traditional IRA to a Roth IRA
- Entering IRA recharacterizations
- Entering Roth distributions
- Entering Roth IRA distributions, conversions, or recharacterizations
- Enter a nondeductible contribution to a traditional IRA
- Enter distribution from an IRA that was rolled over into another IRA
Other
- Optimizing education expenses
- Enter expenses for an undergraduate student who became a graduate student during the tax year
- Entering 1099-C information for property that was abandoned and foreclosed on in the same year
- Using the Family Transfer Utility to transfer data between returns
- Using the Filing Status Optimization utility
- Merging individual clients for married filing joint and domestic partnership returns
- Using the Excel Export / Import utility for multi-state allocation information
- Entering auto expenses
Electronic filing procedures
- Submitting preliminary applications with the IRS and (if applicable) Refund Advantage/TFS Financial (1040 only) for electronic returns
- Configuring UltraTax CS for electronic returns
- Using UltraTax/1040 with Refund Advantage/TFS Financial bank products
- Using the PIN Program for 1040 returns
- Auto-generating the signature date and taxpayer(s) PIN for electronic 1040 returns
- Entering data for electronic returns
- Creating the electronic file and correcting errors
- Preparing 1040 federal extensions for electronic filing
- Transmitting electronic returns to the IRS
- Submitting required paper forms to the IRS