Use this procedure to specify other return options in UltraTax/1065.
- Choose Setup > 1065 Partnership.
Note: Depending on the security configuration, a prompt to enter the master password may appear. Enter the password, and click OK before continuing.
- To set return options not shown in the 1065 Product Information dialog, click the Other Return Options button.
Note: The options you choose apply to all 1065 clients until you change the options again.
- In the Return Presentation tab, specify the following information.
- whether to complete Schedule M-1 in lieu of Schedule M-3, Parts II and III when total ending assets are $50 million or less
- whether to complete Form 8283, columns (e), (f), and (g) when the columns are not required
- whether to print FinCEN Form 114 when the form is not required
- the alignment for the Form 9325 mailing address
- whether to print the Schedule K-1 instructions when the partner is a 1040 client
- whether to print estimate vouchers with a balance due payable by check
- whether to use rental real estate as the Type of property on Screen Rent for new rental units
- the default transaction type for items entered in the Detail schedule field in Screen D
- In the Proforma tab, specify the following information.
- whether to proforma the File this return electronically field in Screen ELF and Screen ELFFP
- whether to delete partners during proforma who were marked as final in the prior year version of UltraTax CS
- whether to proforma the absolute dollar allocation schemes
- whether to proforma the Form 8283 general and donee organization information on Screen 8283P1
- whether to proforma the custom transmittal letter and invoice numbers in Screen Letter
- whether to proforma custom electronic delivery passwords in Setup > Client Communications
- In the Client Documents tab, specify the following information.
- whether to include a list of federal and state enclosed returns in the transmittal letter
- whether to print the engagement letter with the client's tax return
- options for printing "AS SOON AS POSSIBLE" in filing instructions when applicable and only if penalties and/or interest exist
- whether to return the signed Form 2484 or 8821 to the preparer instead of the taxing authority
- options for printing “Paid” or only including estimates with a balance due in the estimate filing instructions
- In the Other tab, specify the following information.
- whether to print Form 7004 with the applicable tax returns
- whether to print the Tax Return History Report and to select the chart options for the report
- whether to print the Bank Account Verification with the applicable tax returns
- whether to have UltraTax CS open the Add Partner Default dialog and/or the Transfers of Capital Accounts dialog the first time you open Partner Data Entry and the Transfers of Capital window for a new client
- whether or not to allow Partner Data Entry to close when all allocations do not equal 100.000000%
- the marginal oil production percentage depletion rate
- the rounding amount for write-up retrieval
- In the Consent tab, specify the following information.
- whether to print the Consent Letter for all clients with their tax returns
- the date the consent will expire
- specific recipients and uses of tax return information for all returns
- Click OK to accept the settings and close the dialog, or click Cancel to close the dialog without saving your changes to the option settings.