Partner Data Entry > Special Allocation of dialog

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UltraTax CS automatically allocates most partnership amounts to the partners using the profit-sharing percentage. Use the Special Allocation of dialog to specially allocate an amount to the partners in a manner that differs from the default allocation method. Or use the Allocations window in Partner Data Entry to specially allocate all amounts to the partners in a manner that differs from the default allocation method.

To use the Special Allocation of dialog, enter the total amount you want to allocate in the appropriate field and click the Ptr Alloc Partner Allocation button button to open the Special Allocation of dialog for that field.

To open the Allocations window in Partner Data Entry, choose View > Partner Information and click the Allocations button.

See Types of allocations (1065) for information about the eight types of allocation components.

Note: The Custom Allocation Scheme dialog is similar to the Special Allocation of dialog and is used to set up a custom allocation scheme. A custom allocation is a defined allocation that, once set up, is available for selection in the Special Allocation of dialog for as many special allocations as desired. To set up a custom allocation scheme, choose Edit > Create Custom in the Allocations window in Partner Data Entry, or click the Custom checkbox and enter a unique title in the Special Allocation of dialog for percentage and unit allocations.

Fields & buttons

Allocation scheme group box

UltraTax CS automatically allocates most partnership amounts to partners using the profit sharing percentage.

Specially allocate

Mark this checkbox to allocate an amount in a manner that differs from the default allocation method. Then, click an option in the Allocation scheme group box to define the allocation.

Note: To remove the special allocation for an amount, clear the Specially allocate checkbox.

US: <allocation name>

Click this option to allocate a state allocation using the defaulting federal allocation. This allocation type is marked automatically for a state allocation when the Default state partner special allocations to the corresponding federal special allocation field is selected on federal Screen CltOptns.

Note: This option is only available on a state allocation that has the ability to default to a federal allocated amount.

Percentage

Click this option to use a single percentage column to specially allocate the amount to the partners.

Units

Click this option to use a single unit column to specially allocate the amount to the partners.

Absolute dollar

Click this option to use a single absolute dollar column to specially allocate the amount to the partners.

Loss

Click this option to specially allocate the amount to the partners based on the loss-sharing percentages entered in the Allocations window in Partner Data Entry.

Advanced

Click this option to use more than one allocation method to specially allocate the amount. (For example, to use both an absolute dollar column and a percentage column.)

Define Scheme button

Click this button to open the Advanced Allocation Scheme dialog to choose multiple allocation methods.

Note: This button is available only if you click the Advanced option.

Custom

A custom allocation scheme is a percentage allocation or a unit allocation that you enter once and then save so that the scheme is available for re-use.

  • To add a custom percentage or unit allocation, click the Percentage option or the Units option, and enter the partners' allocation. Then, mark the Custom checkbox, and enter a unique title.
  • To re-use a previously-defined percentage or unit custom allocation, click the Percentage option or the Units option. Then, mark Custom checkbox, and select the previously-defined custom allocation title from the drop-down list.

Partners to view group box

All partners

Click this option to display all partners.

Partners with amounts

Click this option to display only partners that have an amount allocated to them in the Partner Amount column. This option is available only on allocations that do not filter partners.

Only applicable partners

Click this option to display only partners who meet the criteria of a filtered allocation. For example, in the allocation for the Gross farming or fishing income field in Screen K-3, only those partners subject to self-employment are displayed. This option is available only on filtered allocations.

Applicable partners and partners with amounts

Click this option to display partners that

  • have an amount allocated to them in the Partner Amount column even if they do not meet the criteria of the filtered allocation.
  • meet the criteria of the filtered allocation but have no amount allocated to them.

This option is available only on filtered allocations.

Other fields & buttons

Special Allocation grid

In the columns in this grid, add, edit, or delete the partner note; view the partner's allocated amount for Schedule K-1; or enter the amount, unit, or percentage of the amount you want to allocate to each partner. The option you click in the Allocation scheme group box determines which columns appear.

  • Click the field in the partner note column Field Note button for a partner to open the Field Note/Tick dialog to add, review, modify, or delete the partner's note.
  • The Partner Amount column shows the total amount to allocate and the amounts that will print on each partner's Schedule K-1 and other partner worksheets and reports for the item.
  • Columns with a % heading are percentage columns. When not also using a unit component, the final percentage column must always equal 100 percent.
  • Columns with a $ heading are absolute dollar columns.
  • Columns with a # heading are unit columns.
  • Columns with >$ and >% headings are the greater of columns.

Note: Click a column heading to sort the grid information in ascending order. Click the column heading again to sort the grid information in descending order.

Distribute button

Click this button to open the Distribute dialog to distribute a remaining percentage or amount equally or pro rata to specific partners.

Note: The Distribute button is available only if there is a percentage or amount that still needs to be distributed.

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