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

Where is the information entered in Screens CODI and K1CODI reported?

Answer

UltraTax CS reports information entered in Screens CODI and K1CODI to the following locations on the return.

• Section 108(i) Annual Information Statement (prints with the partnership return) (Screen CODI only)
• Partner Section 108(i) Annual Information Statement (prints as an attachment to the partner's Schedule K-1 in the partner package)
• Deferred income included in current year income: Forms 1065 and 8865, Schedule K, line 11; Schedule M-1; and Schedule K-1, box 11, code F
• Deferred original issue discount deductions allowable as a deduction in current year
• The amount of decrease in liability treated as a distribution of money (section 752) in current year (Screen CODI only): Forms 1065 and 8865, Schedule K, line 20c and Schedule K-1, box 20, code X
• The net of the decrease in liability resulting from reacquisition and the decrease in liability treated as a distribution of money (section 752) in current year (Screen CODI only): Partner Basis Worksheet, Increase (decrease) in share of partnership liabilities

• Related topic: Cancellation of debt income FAQs (1065)

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